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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Over the last few weeks I have looked at some of the new trends surrounding online marketing, but this week I would like to return to an old and very hard-working tool of project marketing: signage.
An important part of the marketing mix
The media mix available for any campaign is usually very diverse and has rapidly changed over the past few years. The powerhouse that is the online marketing has now joined the other varied forms of mass media, press, direct mail, radio, TV and signage.
But workhorses like signs and direct mail still have their place. There are many challenges that result from today’s diverse media mix. But the question still remains as to what media represents the best value, and signs are a part of the mix.
The ritual of open times
In almost any sales path I am always reminded about the daily ritual of putting up signs. The “now open” A-frame is never out of fashion, it’s like the courtesy of how we manage the meet and greet of every visitor to an open. This most basic step is, I think, a good starting point.
Signs
Signs, in particular on-site signs, have a big advantage over almost all other forms of marketing – they are directly connected and related to the site and the product. They are there working 24/7, and there is ample evidence to show that signs will always be required as an essential of project marketing.
There can be limitations, and in some areas these limits are because of planning regulations imposed by local planning requirements. But it can also be possible to use fence banners and with the wide application of smartphones signs can point interested people to a website. If at all possible that should be a mobile website.
Signs also have to be visible, and a sign in a busy CBD environment or in a crowded residential area where there is a lot of ‘visual noise’ can melt into the surrounding environment that is if they are not well designed with a clear and easy-to-understand message.
The design of a sign should reflect the brand values of the project but also take into account the environment. They might to some appear not to be of relevance to a high-end buyer, but I would not agree. Buyers for a CBD development tend to be drawn from many different areas, and a good site sign is likely to attract a buyer's initial attention by making it easy to find or identify a particular site.
In some circumstances the target consumer may not live in the immediate area, they may very well be traveling there in response to a press ad or an eDM, and so as soon as they see the signs it’s easy to get their attention for your project.
However despite some limitations signs are powerful and necessary and time needs to be invested to keep them current and related to the wider marketing message. Signs need to be clear easy to read in a few seconds, and they should work within the brand lock-up for the project – where the colours and logo might just be enough to make a connection with a buyer out searching for you.
Just how big and how many signs will relate to the needs of each project, but in some highly visible locations a big investment can be well justified and it is important to manage signs over the life of a project and so budget for a reasonable number of up-dates to cover material and creative content.
They also need to be kept up-to-date, like an out of date website, an out of date sign is a negative and must be avoided. If they are out of date it sends a downbeat message to the local community as well as potential buyers.
Plan signs as a dedicated activity
Signs are an importance of presentation and a key point for connecting buyers into the sales path.  A poor signage layout can make it harder for buyers to find you or to contact your team and there is no doubt this can loose a sale. The consumer’s expectations need to be fully taken on board, they do not know your project, where it is, even the area may be totally new and even with on-screen maps the role of the sign should not be neglected.
It is difficult to over-stress how vital the on-site signs can be and at times a major investment will be more than justified, it is all part of planning the buyers experience and should be an early part and an ongoing part of planning.
At the start of a new estate or apartment project there is a blank canvas, either an empty parcel of land, an area with buildings that are about to be demolished or some other form of disused amenity that has no baring what so ever with the new project and signs can help fill that gap.
But keep in mind that for any potential buyer the site is, at least for their first visit, a complete mystery and this again suggest that signs should be simple – they are not read as a press ad or a brochure so avoid clutter.
There is a need make sure key details like, telephone contacts, branding and website details stand out. This applies to all signs, banners, construction hoardings, a-frames and directional signs and the basics need to be ticked off for both the largest and smallest signs.
Electronic signs
Technology will soon deliver a new generations of signs, that are interactive, that can ‘talk and communicate’ with anyone engaged with the sign, in real time, not like a QR code, but much more. I have been looking some of the new ideas emerging. It’s a fascinating area that I will return to.
Signs will evolve, they already are, but we should not underestimate or neglect planning and design because their value even at the most basic level is critical.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How to use signage in marketing a residential development

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What does the start of the auction year tell us?
With around 950 auctions expected, it goes without saying that this weekend is a significant test for the Melbourne residential market. By the end of it we will have a clear indication of market sentiment in 2013.
Indications are already positive. This year has commenced better than the last one ended, and that was also better than it started. The overall picture is of slowly improving demand.
Critically, Victorian consumers are more confident than they were a year ago. While this continues to be the case it will be a positive boost for the market.
Last weekend the Melbourne clearance rate was 70%. To put that in perspective the last time we recorded a clearance rate that commenced with a seven in front of it Collingwood beat St Kilda at the grand final replay in 2010.
Click to enlarge
<a href="/images/stories/2013/02/laroccagraphfeb19.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/02/laroccagraphfeb19thumb.gif"></a>
How they year starts, however, does not provide a clear indication of how it will end in the auction market. In fact, over the past five years the weekend clearance rate has rarely been the same at the end of the year as it was at the start.
There are many reasons for this; the critical one, however, is the performance of the economy and how that impacts on consumers.
Last year it was stable over the year. The February clearance rate for Melbourne was 62%, and after reaching a high of 65% in October it ended at 60%. This represented a fairly minor spread of 2 points from start till end.
In 2011 the drop was more significant. In February it was 67%, and it dropped 12 points to 55% in December. This was due to a large number of vendors, buoyed by the 2010 market, listing for auction in early 2011.
From a price perspective the market peaked in 2010 but the clearance rate fell over the year, from 86% in February to 65% in December, a 21-point drop.
In 2009 the market rose, but with a spread of 6 points was stable compared to the years that followed. It started in February with 76% and ended with 82%. Volumes were, however, very low at the start of the year, consumer confidence was at a low ebb following the onset of the GFC in September.
Finally in 2008 the spread was 15 points as it fell from 77% in February to 62% in December. That year the market was particularly affected by the end of a cycle of increasing interest rates in the second quarter and then of course the GFC.
To find out what happens this weekend <a target="_blank" href="https://www.twitter.com/@REIVictoria">follow the REIV on Twitter</a> or visit <a target="_blank" href="https://www.reiv.com.au">reiv.com.au.</a>
Robert Larocca is communications manager of the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>
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Indications positive for Melbourne auction property market in 2013: Robert Larocca

<html><body>Australian Property Monitors (APM) has released a list of results from 225 auctions in Sydney for the weekend of February 16. The clearance rate was 71.6%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> 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 Sydney's 225 auction results show a 71.6% clearance rate

<html><body>Australian Property Monitors (APM) has released a list of results from 210 auctions in Melbourne for the weekend of February 16. <a style="font-size: 14px; text-align: left;" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Melbourne auction results 

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A Melbourne private investor has paid $1.65 million on a passing yield of 5.67% for the ground-floor shop that houses the premises of Fred Perry men’s fashion store on Little Collins Street in the Melbourne CBD. 
<img src="/images/stories/2013/02/fredperry.jpg" width="470" height="353" alt="fredperry">
The 32.5-square-metre strata retail premises at 188 Little Collins Street sets a new record, according to the selling agents Nick Peden and Clinton Baxter from Savills, for the highest rate per square metre – $50,769 per square metre – for a CBD retail property outside of Swanston Street. 
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500597599">Fred Perry has a lease on the store until March 2017, with a five-year option at a net rental of $93,600 per annum</a>. 
<img src="/images/stories/2013/02/fredperry2.jpg" width="470" height="353" alt="fredperry2">
The brand dates back to the late 1940s, when former Austrian footballer Tibby Wegner approached three-time Wimbledon champion Fred Perry with an idea to use his name to sell sportswear. 
They started off modestly with the very first sports sweatband, quickly adopted by tennis players across the courts of Britain. In 1952 the pair launched what was to be Fred Perry's most famous garment: a slim-fit cotton pique shirt with laurel wreath embroidery. 
<img src="/images/stories/2013/02/fredperry3.jpg" width="470" height="353" alt="fredperry3">
The selling agents said the property attracted a great deal of interest from investors keen to take advantage of the secure lease profile and prime CBD location. 
There was competition for the premises from both local and offshore investors, which “demonstrated confidence in the CBD retail market and a desire to secure good-quality CBD property," says Peden. 
"The property offered an excellent opportunity to acquire an extremely well located and affordable retail investment property within the Melbourne CBD. 
"With the low interest rate environment and prospects for strong growth due to the CBD’s rapidly rising population, we were able to sell the property within 14 days of placing it on the market, at the vendor’s price, with minimal marketing expenditure," says Peden. 
This sale represents Savills ninth CBD sale in the past few months.
Space in Little Collins Street comes at a premium. Last week Savills retail director Michael Di Carlo alongside colleague Jeremy Marmur negotiated a new lease for food and beverage retailerMadam Squint, at 353 Little Collins Street property at more than $2,000 per square metre net for a 47-square-metre, ground-floor retail premises on a three-year term. 
Madam Squint is a new concept in Asian salad and sandwich bars specialising in rice burgers.
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Melbourne private investor pays $1.65 million for premises of Fred Perry on sought-after Little Collins Street 

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Australians are not saving enough for a self-funded retirement. Or should I say, they are not putting away enough now to live at the standard they want to live at in retirement.
Superannuation has been in the news lately because the government is tinkering with super. But poor savings rates for retirement can’t be all the fault of government. Superannuation – when introduced in 1992 – broke the rules that said governments and employers carried the burden for funding our retirements. It shifted private retirement savings from a “defined benefit” system (where the employee is promised a certain amount at retirement by the employer) to a defined contribution system, where every employee has to have 9% of earnings put in a superannuation fund.
This shifted responsibility and risk to the individual, many of whom lacked the skills to do it. But there also came with this system empowerment and individual choice for Australians, younger generations in particular, who would have an entire working life to build their savings.
So the fact that few young Australians are optimising this tax-friendly retirement system with top-ups to their employer contributions is an interesting story.
Why are young Australians not engaged with their super? And when I say young, I mean people from their 20s to 30s – people who are out of school and working.
I don’t think this is about whether the super guarantee is 9% or 12 or 15. If people aren’t embracing it at 9% they won’t be any more interested when it’s higher.
I decided to use Twitter to see what people were thinking about retirement, and two clear strands of thinking came back. Firstly, we have a system where all the burden falls on people to make the right decisions, but no one seems to be teaching basic investment strategy in high schools.
While teachers will understandably groan at adding one more thing to an already crowded curriculum, there really has to be an investment primer for teenagers before they join the work force.
The second point concerns modern life: when you get into the phase that brings kids, mortgages and/or career ambition, the last thing you are thinking about is topping up your super and devising a retirement strategy.
A number of respondents simply said that with a mortgage and kids, are you kidding about super?
Which is the nut we have to crack: we need people to top up their super when they’re at their highest earning years in order to provide the income they need to live well in retirement. But for most people these years overlap with mortgages and kids while the cost of living is rising.
There are no easy answers but I will go back to basics and remind everyone that super is their money and it’s their retirement. It’s never too late to become informed and active about super. You may thank yourself for it one day.
I would love to know your thoughts. <a href="https://www.twitter.com/@markbouris" target="_blank">Talk to me on Twitter</a>.
Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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Australians are not saving enough for retirement

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Mirvac has sold just over half of the 205 apartments in its Array residential tower in Melbourne's Docklands, its interim results reveal.
Marketing of the 39-storey development commenced six months ago (September 2012), with apartments priced from $520,000 for a one-bedroom apartment to $7 million for a penthouse.
The $218 million development is due to be completed in 2016, with first settlements occurring in mid-2015. Site works on the project have already begun.
Mirvac <a href="https://www.propertyobserver.com.au/news/mirvac-profit-slumps-with-residential-outlook-mixed-but-improving/2013021459345?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">reported a 69% slump in net profits </a>in the six months to December 31, with the expectation that the Victorian market will underperform relative to other capital city residential markets.
Mirvac is the developer of the Yarra’s Edge portion of <a target="_blank" href="/news">Docklands</a>, a 14-hectare site on the southern banks of the Yarra River that extends out from the <a target="_blank" href="/news">Southbank </a>promenade connected to the city via the new South Wharf precinct.
Mirvac’s vision for Yarra’s Edge is for “an exclusive village-style neighbourhood … offering the ultimate in waterfront living”.
Array is one of five residential towers planned for Yarra’s Edge, alongside a full-service marina, parklands, a day spa and a mix of shops, cafes and restaurants along the promenade.
Mirvac has almost completed construction of another residential tower Yarra Point featuring 201 apartments, of which 170 apartments have been sold with prices ranging from $510,000 to $2.4 million. First settlements are due from next month.
The other residential projects at Yarra’s Edge are the 82 luxury Riverfront homes, which have all been completed and of which just two remain available for purchase and the marina, featuring 149 yachting berths of which 105 have been sold.
Mirvac plans to have built 2,000 residences in Yarra’s Edge by completion of the 18-year project in mid-2017.
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Half of apartments in Mirvac’s Array development in Docklands sold

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David Devine's Metro Property Development continues to be the top off-the-plan seller in the inner-Brisbane market, with three of its projects ranking as the three top sellers in the December quarter of 2012.
It was the third successive quarter that Metro has been the top performing developer in inner Brisbane, where more than 40 projects are being marketed or under construction.
Metro's The Plaza at South Brisbane ranked first with 57 unconditional sales over the quarter, followed by Cambridge Towers in Fortitude Valley with 25 sales and Brooklyn on Brookes, tied for third with 23 sales.
The figures are based on a report compiled by market research firm Place Advisory.
Metro now has more than 800 apartments across four different projects under construction throughout inner-city Brisbane.
David Devine told Property Observer in November that Metro’s ability to offer apartments to investors that qualify for the federal government’s <a target="_blank" href="https://www.propertyobserver.com.au/queensland/nras-and-smsf-investors-helping-keep-inner-brisbane-off-the-plan-market-afloat-david-devine/2012112858155">national rental affordability scheme (NRAS) </a>and that appeal to investors acquiring property through their self-managed super funds are key reasons for its success to date.
The projects – the three mentioned above a well as Madison Heights at Bowen Hills – have combined end value of more than $400 million.
The success of Metro’s projects comes as new research from by Urbis shows that the apartment market is continuing to grow and now makes up 38% of total residential transactions in the inner Brisbane market.
This is up from just 10.2% of all transactions in 1981 with Urbis forecasting that due to the geographical nature and scarcity of vacant land within the Brisbane LGA this proportion may exceed 50% of all transactions by 2016.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/devinefeb14.gif"><img src="/images/stories/2013/02/devinefeb14thumb.gif"></a>
The 12-level The Plaza (pictured below) has been designed by architects Deicke Richards and is under construction at the corner of Russell and Manning streets on a 2,270-square-metre site and will feature 168 apartments.
<img src="/images/stories/2013/02/theplaza1.jpg" width="470" height="393" alt="theplaza1">
It is 83% sold out, with recent sales ranging from $413,000 for a one-bedroom apartment measuring 52 square metres to $562,000 for a 72-square-metre two-bedroom, two bathroom apartment, according to the Midwood Report.
The building will also feature a pool, gymnasium, outdoor dining area and garden reading room.
Approval for the project was granted in August last year.
<img src="/images/stories/2013/02/cambridgetowers.jpg" width="470" height="325" alt="cambridgetowers">
Cambridge Towers (pictured above) is the first building in the six-tower Central Village master planned precinct and includes 163 apartments over 18-storeys.  Apartments range from $275,000 to $550,000 and feature a mix of studio, one bedroom and two bedroom apartments.
Construction at Cambridge Towers has now commenced after Metro appointed PBS Builders to the project.
<img src="/images/stories/2013/02/brooklynonbrookes.jpg" width="316" height="421" alt="brooklynonbrookes">
The 14-level Brooklyn on Brookes apartment block (pictured above) being built on the corner of Brookes and Ann streets in <a href="/news">Fortitude Valley</a> feature 216 one and two bedroom apartments ranging from $305,000 to $750,000 and is 80% sold out. It adjoins the Emporium shopping complex.
The building was designed by architects Wood Bagot to be a New York-style apartment project.
It is a joint venture project with Indian-based developer Pearls Australasia, which has also collaborated with Metro on the completed and sold out Chelsea in Bowen Hills and the Madison Heights apartment tower, also in Bowen Hills and currently under construction.
Pearls Australasia bought the Sheraton Mirage Resort and Spa on the Gold Coast for a reported $60 million in 2009.
Devine says a number of market factors had helped influence the strong sales figures.
“We’ve seen a marked increase in sales over the past few months as interest rates remain low, consumer confidence has risen and the market has stabilised.”
Another strength, he says is finding the right location for the right property including being close to transport, shops, entertainment and parks
“They’re also just a few minutes away from major employment hubs like Brisbane, South Brisbane, Fortitude Valley, Newstead and Teneriffe.
“Combined with communal amenities like rooftop terraces and swimming pools; stylish interiors; and competitive pricing, our apartment projects are in high-demand.”
Devine says the Urbis statistics, combined with Metro’s success over recent years, indicated a fundamental change in the way Australian’s viewed property.
“The great Australian dream is changing… where once everybody wanted quarter-acre block with detached home they are now increasingly looking for a stylish apartment, with great views and amenities,” he says.
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David Devine's Metro remains Brisbane off-the-plan top seller

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Compared to other states and territories, home auctions are less common in Western Australia, with only around 2% of properties sold using this method.
By contrast, around 23% of properties are auctioned in Sydney, 30% in Melbourne, 11% in Brisbane, 27% in Adelaide, 16% in Darwin and 10% in Canberra.
Across the nation the average number of homes sold by auction is approximately one out of every five.
The main reason behind the lesser auction culture in WA seems to be the success of the offer and acceptance form developed by REIWA. This reliable document used for a sale by private treaty would be familiar to most home buyers, and its simplicity is the main reason why private treaty dominates sales methods here.
However, the strong and fast market in Perth during the boom resulted in renewed interest in auctions – and it wasn’t just confined to the western suburbs or to premium properties, which had traditionally been the case.
When prices were rising quickly during that period, it was often hard for agents to determine the right price for a property or anticipate what a purchaser might be prepared to pay, so an auction proved an ideal way to get the best price for the seller, often exceeding the vendor's expectations.
Of course, the WA market is no longer booming and the median price is more stable, but an auction with its short but high-profile marketing campaign can be very effective at bringing out the more serious buyers on the day.
When there are many properties listed for sale and hesitant buyers are spoilt with choice, an auction might be just the thing you need to give your property the edge it needs to attract attention.
Sometimes the media reports that many auctions are being passed-in at the fall of the hammer, recording no sale.
However, this fails to illustrate that very often West Australian buyers will approach the auctioneer shortly after the conclusion of an auction to negotiate a sale by the more familiar private treaty method. Again, this seems to be more a part of WA’s different auction culture by consumers, but the process still serves to attract keen buyers for the seller in a shorter time.
Auctions in WA are undertaken using a code of practice for the profession following consultation by REIWA with the Australian Competition and Consumer Commission to ensure the code accords to best practice. As a result, REIWA believes its code of conduct lifts the benchmark for ethical auctioneering practices.
Ask your agent about the pros and cons of auctions if you want to explore this method further.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Why more WA home owners should consider selling their homes at auction

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Australian household net worth started rising in 2012 alongside a recovery in house prices in the later part of the year, graphs prepared by the RBA in its February monetary policy statement reveal.
<img width="470" height="419" alt="rbafeb11" src="/images/stories/2013/02/rbafeb11.gif">
<img width="470" height="362" alt="rbafeb111" src="/images/stories/2013/02/rbafeb111.gif">
The RBA also notes that residential vacancy rates remain relatively low at around 2%, contributing to rents growing faster than inflation and rising rental yields.
<img width="470" height="581" alt="rbafeb112" src="/images/stories/2013/02/rbafeb112.gif">
“Nationwide, rents are growing at an annual rate of around 4%. With rents growing faster than dwelling prices over the past year, nationwide gross rental yields have increased to 4.75% (and as high as 5.5% in Perth)."
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