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]

Joel Robinson

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

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

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?

<html><body>
8/127-129 Polding Street, Fairfield Heights, NSW, 2165 <img alt="polding" height="353" width="470" src="/images/stories/2012/12/polding.jpg">
There is no pre-Christmas slowdown in the market in Fairfield Heights, according to Ray White agent Graham Ball, who is marketing this three-bedroom house. 
"We're going to be busy right up until Christmas Eve," says Ball.
"The market is buzzing along in our area."
The townhouse is within easy walking distance of Fairfield Heights Shopping Centre and has a bus stop out the front. It is currently leased until April for $460 per week, which Ball says is a great return for the property. He says the tenants are keen to stay on longer if possible. 
Ball <a href="https://www.raywhite.com/nsw/fairfield-heights/889178/" target="_blank">is marketing the property</a> with price hopes of around $350,000, and if it sells for that price, that would secure an investor a gross rental yield of 6.8% at its current rent, well above the gross rental yield for Fairfield Heights houses of 5.1%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The median house price in Fairfield Heights rose 0.6% in the past year and rose 30.3% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">Fairfield Heights, see the RP Data suburb page.</a>
The property will go to auction on December 22 at noon.
</body></html>

cknowlton-QnEa6ntUYP

Friday form guide: Yields of up to 6.8% in the last pre-Christmas auction weekend

<html><body>
Most communication involves negotiation. Aside from ‘splitting-the-difference’ most people don’t know a lot about negotiating. They are not very good at getting very good deals for themselves.
One of the most important things to remember when negotiating is to ask lots of questions. Very often, you need to ask questions of yourself. Why do you want to buy? How much do you want to pay? When do you want to have it? Try and remember what the writer Rudyard Kipling once said: ‘I keep six honest servants; they’ve taught me all I know. Their names are what, why and who. And when and where and how.’
Most people make the mistake of thinking that negotiation is a complex science. It’s not. It’s usually just two people both trying to get the best deal for themselves: the person who is selling and the person who is buying. And there is no honest reason why both sides can’t reach a price which makes both of them happy. Here are 10 of my favourite points about negotiation.
1. FAIRNESS
First, don’t even consider ripping off the other person. If you’ve got a good product that’s priced higher than it can be bought elsewhere, then you’d better have a very good reason to justify your higher price. What are you offering that the other seller is not offering? If nothing, then all you’ve got to offer is price. If you are in a price war – as so often happens today, especially with cars and white goods – there’s only one way you can be sure of winning. Guarantee the best price.
That’s right; don’t just say that your price is best. Guarantee it. If they buy from you and later (within, say, 30 days), they see it advertised cheaper with someone else, then say you’ll refund the difference. I love honest guarantees in negotiation. They instantly move you closer to closing the transaction and they make you feel good. You don’t go away with that nagging feeling that maybe you could have got it even cheaper elsewhere. So this sort of negotiation is simple. If you’re the seller, offer the best price possible. If you’re the buyer, do some research and get to know the prices.
There is, however, one wonderful seven-word question which you should ask the other party, regardless of whether you are buying or selling. That question is: ‘Is that the best you can do?’ You’ll be astounded how many times this soft little question saves you a stack of dollars. One final tip on this question: Ask it a second time with one more word added. Once you’ve got what you are told is ‘the best’ that can be done, ask this eight-word question: ‘Is that REALLY the best you can do?’
I estimate that the first time you ask this question, you’ll get a better deal at least 50% of the time. The second time you ask the question – with the word ‘really’ added – you’ll get a better deal (in total) about 75 per cent of the time.
 Finally, the most important word in negotiation is ‘fairness’. It’s the first and final rule.
 
<hr class="system-pagebreak">
 
2. VARIABLES
Second, look for variables – something you can add in as an extra if you’re selling or something that you can take out if you’re buying. For example, a home may have some expensive light fittings. If the buyer makes an offer which seems too low, the seller can say, ‘We accept the offer but we need to exclude the light fittings.’ There are a whole host of other extra things you can include or remove if you are selling or buying a house. During tight times in real estate, some property developers offer a ‘free car’ if you buy one of their properties. With such a large inclusion, though, it’s hard not to think that the price of the car has been added to the price of the property. Once again, do your own research.
3. RESEARCH
Third, become a superb researcher. You know who always gets the deal from a negotiation? The person who’s the best informed. Depending upon what you are selling or buying, the more research you do, the more knowledge you’ll acquire. With negotiation, knowledge is power.
Here’s an example. There’s another home for sale in my street. It’s just been built. It’s a gorgeous looking home but it’s located in the middle of a bend coming down a hill. As you drive down the hill, it’s easy to imagine a car losing control, failing to take the bend and ploughing into this house. This is a valid concern which can be used by buyers to secure a lower price. But if the sellers have done their research, they’d be able to tell the buyers that the council is going to close the street at the top of the hill. Cars will only be able to go one way – up the hill. Presto, knowledge has saved the sellers from having to give a hefty discount.
4. TIME
Fourth, be careful of time. The longer you spend in a negotiation, the more likely you’ll capitulate. When you invest a lot of time with people, you think: Well, we’d better do a deal now or else we’ve wasted all these hours/days/weeks. A car salesman once told me that some buyers will point to a car in the middle of many cars and ask the salesperson for a test drive. The poor salesperson may spend 20 minutes shifting cars around. He expects to make a sale. He has invested time and whoever invests the most time is the one most likely to surrender conditions. Some car buyers get salespeople to bring cars to the buyers’ homes. All the buyers do is sit at home and wait. The car salesperson uses up a heap of time, especially if they have to go back and forth to the buyers’ home with several types of cars.
So be careful. The longer the negotiation goes for, the less chance one side will have of getting the best deal. Make sure it’s not your side that’s invested huge chunks of time.
5. TERMS
Fifth, consider terms. Often, negotiation involves a financial focal point. For example, the price asked for a home may be one million dollars. Buyers are only offering $900,000. The sellers reduce their price to $980,000. The buyers increase to $920,000. Stalemate. Sixty thousand dollars short. The buyers say they have run out of money. With their savings, they have reached the maximum that the bank will lend them. The sale is about to fall over. But, suddenly, the sellers offer to ‘lend’ the buyers the $60,000 shortfall. The sellers may say, ‘Okay, we are $60,000 short, but we’ll let you pay us $12,000 per year for six years.’ If the buyer agrees, which they often do, the sale is saved. There are a myriad of combinations that can be used with financial terms.
6. STEADY
Sixth, be careful how you say ‘yes’. Let’s say you like something that has an asking price of one thousand dollars. You may offer eight hundred dollars. The seller gives you a big smile and says, ‘Yes, I accept,’ and out comes the proffered hand to shake. What’s your first thought? Yes, it was all too easy; maybe you should have offered less.
If you are the seller and someone makes you any offer that you want to accept, never look delighted. Take it steady. Maintain a stern, almost worried look. Ask for a few minutes alone with your partner. If you decide to accept the offer, always try to get the other side to make one more, final, concession. Here’s what you would go back and say: ‘Look, it’s not what we are hoping for, but we have decided to accept if you will pay for postage and packing [or whatever concession you seek].’
 
<hr class="system-pagebreak">
 
7. CONTRA
Seventh, if you give something, make sure you receive something in return. That’s right, every time you agree to some point or condition in the negotiation, the other side, in return, should agree to compensate you for that. Don’t ever give anything away without getting something  in return. A contra arrangement. For example, you might increase your offer by $10,000 if they agree to leave their ride-on lawnmower and all the gardening implements.
8. QUESTIONS
Eighth, ask questions instead of making statements. Let’s face it, almost no one feels comfortable looking another person in the face and saying, ‘I want to give you $10,000 less than you are asking.’ 
So instead of making such ‘in-your-face’ statements, try asking a few soft questions.
For example, you can look at the asking price and then look puzzled before you ask, ‘Why are you asking this price?’ Amazingly, rather than try to justify why they are asking a certain price, many people will immediately reduce the price. It’s easier for them to reduce than defend their price.
And let’s say you are checking in to a hotel. All hotels have a series of set rates they charge. All hotels are flexible on their rates, no matter what they tell you. After all, they can’t sell the previous night’s empty room at any price. The worst rate that hotels have – and the one they’ll try to get you to pay – is what’s called their ‘rack’ rate. If you know what you are doing you will never pay the rack rate. So all you do is ask the desk clerk, ‘What special deals do you have on at the moment?’ If they say there are no deals and then they quote you a rate, you should immediately say, ‘Yes, but that’s your rack rate!’ (Say it as if only mugs would pay a rack rate.) All hotels also have a corporate rate, which is anywhere from 10 to 30 per cent cheaper than the rack rate. So you should ask, ‘What’s your corporate rate?’ When they tell you, then say – almost grudgingly – ‘Okay, I’ll take that then.’
But you’re not finished yet. Have you got one of their premier rooms or just one of their mediocre standard rooms? It costs a hotel nothing to give you one of their better rooms. To get a better room, just politely say, ‘Could you please give us a nice room?’ You’ll be surprised how often hotels will upgrade you at no extra cost. And what about breakfast? Ask the question in a positive manner and you’re more likely to get a positive result. For example, ‘This includes breakfast, doesn’t it?’ 
And finally, don’t forget to get a late check-out. Conrad Hilton was the man who got the masses to check out of his hotels on time. People used to be told that ‘check-out time’ was 11 am. But hardly anyone took any notice. He was having terrible trouble. And then he decided to post signs at the reception desk and in the rooms, saying ‘Check-out time strictly 11 am’. Suddenly, because it was in writing, everyone obeyed.
So be careful. Don’t ever let written words intimidate you to do what the written words want you to do. With negotiation, just about everything is negotiable – except your integrity, of course. Never do, or even hint at doing, anything unethical.
Recently I was at one of the big city car parks. I couldn’t find my car so I asked one of the attendants to help me. He was not only helpful with directions, he also took my money which saved me going to the cashier. It wasn’t until after I drove out that I realised what had happened. He had acted nervously and he moved behind a large concrete post when he looked at my ticket and got my money (I later realised to hide from the security camera). He took two 20-dollar notes from me which, at the time, I thought was quite reasonable, considering I had been parked there for most of the day. When he took the money, he said: ‘That’ll do.’ I thought he had given me a special rate. But he had actually given me the thief’s discount because he kept the money for himself. The real rate was around 70 dollars. As I joined the mass of city peak hour traffic, I slowly began to work out what had happened. He had pocketed my money. I fumed. I felt like going to his employers and setting him up in a hidden camera sting. I hate dishonesty, wherever it’s found or however it’s perpetrated. And, as in this case, I hated being almost a partner in this crook’s crime. I drove home feeling guilty myself. I couldn’t stand it and so the next day I rang the large car park company. To my shock, they weren’t interested. Perhaps they were all doing it all the time. Who knows?
 
<hr class="system-pagebreak">
 
9. ODD
Ninth, don’t negotiate in even numbers, particularly near the end of the negotiation. Have you ever noticed that when people tell you their highest or lowest price, it almost always ends in a round number? Such as $10,000 or $12,000. But seldom $10,277. If people really were stretched to their limits, they’d be offering an odd amount – a sign that they had virtually emptied their purse.
Often, when you offer an odd amount, the other side will say something such as, ‘Why are you offering me $10,277?’ You then reply: ‘Because that’s all I can afford. I just can’t go any higher. If that’s not enough for you, then, I’m sorry, I’ll have to let it go.’ Again, you’ll be surprised how many times people will accept a price with an odd number, even if they may have refused a higher price with an even number!
10. EXPERTS
The 10th point is: consider using experts. I have done a lot of negotiation in my life but never felt comfortable negotiating for myself. I can get great deals for the sellers of real estate but when it comes to myself, I often end up feeling sorry for the buyers. I sold my last family home for almost $20,000 less than an earlier price I had been offered. Yes, I had two buyers. Instead of taking the buyer with the higher amount, I took the offer from the mother with a mentally disabled daughter. The agent introduced me to the lady. She was lovely and my heart melted.
It has been a different story, though, whenever I have been buying real estate. On the last three occasions that I or a close family member have bought property, we have always used the services of a Buyers’ Agent. In every case, we have saved more money than the amount we paid the expert. So, if you don’t feel 100 per cent comfortable doing the negotiating yourself (on big items only, such as houses or cars), I recommend that you hire a skilled negotiator.
Neil Jenman is a property commentator, consumer advocate and <a href="https://www.jenman.com.au/index.php" target="_blank">investigative writer. </a>
<a href="https://www.successtakescharacter.com/" target="_blank"><img src="/images/stories/2012/12/jenmanbook.jpg" width="150" height="204" alt="jenmanbook" style="margin: 6px; float: left;"></a>
This is an excerpt of his book <a href="https://www.successtakescharacter.com/" target="_blank">Success Takes Character: Winning and Losing in the Game of Life</a>
</body></html>

njenman-NBpYzwDRUg

The 10 ways to negotiate a better deal in property: Neil Jenman

<html><body>
The biggest twits in real estate are the people waiting for the trough. 
Many tell me they’re not going to act until “the market bottoms”. I ask how they think they’ll be able to identify the bottom when it arrives. They don’t have an answer. 
Primarily, I think, they’re waiting to read about it in a newspaper. 
Here’s the problem. There’s nobody writing for newspapers with sufficient expertise to know a trough from a peak. 
Here’s another. By the time journalists start writing about the market bottoming, after receiving a press release from an attention-seeker, it will be too late. It will have occurred six months earlier. 
And here’s the biggest problem. While people have been scratching their bottom waiting to pick the bottom, the bottom has already happened. In many key markets, it’s already part of history. 
It may not feel so for some people, but 2012 has been a much better year in real estate than last year. Darwin and Perth have had huge rental increases and prices have started to follow. The bottom has long since passed in those two cities. 
The latest figures for Sydney and Brisbane also indicate the declines of 2011 and early 2012 have been arrested, and those markets are also moving forward. 
Around Australia, many regional markets have left their troughs in the distant past and have had strong growth years in 2012. There are dozens where prices grew 5% or more in the past 12 months. 
The trough-seekers have been piling into markets like Gladstone this year, having missed the trough which happened two to three years ago. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/its-time-to-stop-procrastinating-and-get-into-the-real-estate-market-terry-ryder/2012120558315">As I wrote in a Property Observer column earlier this month</a>, it doesn’t get any better than this for property buyers. All the indicators – including rising sales activity, increased lending levels, improved clearance rates, six interest rate reductions and seven consecutive quarters of improved affordability – declare that now is the moment. 
So, following an improved 2012, next year will be better again. I’m expecting growth in all the capital cities except Melbourne (Hobart I’m not sure about – weak economic fundamentals may be counter-balanced by the advancement of key construction projects and state government spending packages). 
The regions will again provide the most upside for property investors. Many regional towns and cities have been solid in 2012 and some have been very strong.  There will be more growth markets in 2013 than this year. 
It’s important to pick the right ones. The key factors to look for include diverse economies, proactive local councils, spending on infrastructure and expansion of jobs-creating businesses. 
The best capital growth will be found in those that experienced significant rental growth in 2012, but not the same level of price growth – yet. 
Most likely these will be regional areas touched by the resources sector but not dependent on it. Toowoomba in Queensland and Tamworth in NSW provide a couple of pertinent examples. These places have been important, prosperous regional centres long-term but have an additional powerful element to their economies with the emergence of resources activity in their area of influence. 
These are safe places to invest – you’re getting the benefit of the mining sector without the risk of buying in a mining town. 
So here’s the best tip for getting the best out of 2013: get busy now. Don’t be a herd animal. Most investors follow the pack and end up like pigs feeding at the trough, in a shambolic frenzy – except, it’s not a trough any more. By the top everyone’s gorging themselves, it’s well on the way to the peak – or has already passed it.
 
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
For more, watch Terry's free webinar <a href="/news">Regions vs capital cities: Where to invest in 2013</a>
</body></html>

terryryder-YECXbqmri2

Why you should get busy investing in residential property in 2013: Terry Ryder

<html><body>
The scaffolding surrounding Lend Lease’s timber Docklands development Forté has come down, revealing the tallest timber residential building in the world.


Construction started in the first week of June, with levels rapidly added in the weeks that followed.
<img height="353" width="470" src="/images/stories/2012/12/fortedec20.jpg" alt="fortedec20">
Buyers are expected to move in next month, with the official launch to be held in late February. 
<img height="353" width="470" src="/images/stories/2012/12/fortedec202.jpg" alt="fortedec202">
The $11 million project makes use of the lightweight cross-laminated timber (CLT), commonly used in Europe, which has a structural strength similar to concrete and steel.
There are be 23 apartments in the 32-metre, 10-storey building. Prices start from $435,000 for a 59-square-metre one-bedroom apartment, climbing to the high $600,000s for a two-bedroom, two-bathroom pad, with the penthouses reaching $795,000.
Construction of the building was quieter, more efficient, faster and safer than construction with more traditional materials.
 
Forté's pictorial timeline
 
  
<img height="313" width="470" src="/images/stories/2012/06/fortesite3.jpg" alt="fortesite3">
Forté's progress as of June 8
 
<img height="313" width="470" src="/images/stories/2012/06/fortejune3.jpg" alt="fortejune3">
Forté's progress as of June 29
 
<img height="313" width="470" src="/images/stories/2012/07/july13forte/_mg_5006.jpg" alt="_mg_5006">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20
<img src="/images/stories/2012/09/fortesept7.jpg">
Forté's progress as of September 7
<img height="627" width="470" src="/images/stories/2012/12/fortedec201.jpg" alt="fortedec201">
Forte's progress as of December 20
{module Would you buy an apartment in a timber building?}
</body></html>

jchancellor-FAypfDUnLy

Forté scaffolding comes down, unwrapping the world's tallest timber building

<html><body>
The Gold Coast apartment market remains deeply troubled with developers reporting only 19 high-rise apartment sales over the November quarter, a 70% plunge from sales figure a year ago, according to the latest Midwood Report.
Quarterly sales figures were more than double the paltry eight sales recorded in the August quarter, but just a fraction of the 73 sales recorded in November quarter of 2011.
In total there are 705 high-rise apartments available for purchase on the Gold Coast, which at current sales rates would take close to a decade to clear.
The Midwood report classifies high-rise sales as those developments of 40 storeys and higher.
All but three of the sales over the quarter were in the Brookfield Multiplex-constructed $700 million Hilton Surfers Paradise (pictured below), following prices being reduced by up to a third.
<img alt="hiltonsurfers" height="346" width="470" src="/images/stories/2012/12/hiltonsurfers.jpg">
There were no sales reported in the two other major high-rise apartments – Niecon’s Oracle and Juniper’s Soul, both of which are in the hands of receivers.
The Midwood report records just 45 total unit sales on the Gold Coast over the November quarter, compared with 107 in the corresponding quarter last year.
Putting this in context, there were 386 apartment sales recorded in Brisbane over the same period, more than three times more than the 110 apartments sold a year ago.
In the Hilton, prices ranged from $495,000 for a two-bedroom, one-bathroom apartment over 76 square metres to $1.63 million for a two-bedroom, two bath apartment over 118 square metres.
According to 360 Project Marketing, which is marketing the Hilton apartments, buyers have snapped up more than $15 million in apartments during the past three months, following a recent reduction in prices of up to 34%.
Marketing director Trent Milburn of 360 Project  says the new price tags have stimulated buyer activity across the board.
The project also has Foreign Investment Review Board (FIRB) approval, and Milburn says many of the buyers have come from south-east Asia.
“A month ago a foreign buyer could have purchased an apartment in the development for under $500,000, two months ago they could have bought for under $450,000 – now we’re at $525,000 and headed for $600,000.
Since January, 65 apartments have sold at prices between $435,000 and $2.3 million, with the final sub-penthouse currently on the market for $3.45 million.


<hr class="system-pagebreak">
Out of the 410 apartments across the Boulevard and Orchid towers in the Hilton development, 134 remain up for sale.
Midwood reports two sales – one each in the Oceana and Solitaire Towers – as part of the Element Burleigh Beach project being developed by Amalgamated Property Group and marketed by CBRE, which is nearly sold out.
A further sale was recorded at Southport Central III, the Lindaning Pty Ltd/Colliers International development in the hands of receivers, with 87 out of 258 units still available for sale.
Report author Bill Morris notes that high-rise sales “continue to be sluggish”, with only the Brookfield Multiplex/360 Project marketing Hilton recording a reasonable volume, having re-introduced 109 apartments when contracts had fallen over, and discounted them by 30%.
“Oracle and Soul are only recently in receivership and the liquidators have yet to mount a solid marketing campaign and price list,” says Morris.
Morris notes that a new project, Broadbeach Central has been announced by Amalgamated Property Group and Morris Property Group on Main Street Broadbeach, however off-the-plan sales have yet to commence.
There was little for investors to cheer about either with rents unchanged across both units and houses.
Median weekly rents for one-bedroom apartments are unchanged from two years at $290 while the median two-bedroom apartment rent is up slightly from $340 in 2010 to $350 currently.
The Gold Coast market has been hit by both a slowdown in interstate and overseas migration into Queensland over the last few years with regional population growth slowing from 3.4% in 2001 to 2.1% in 2011.
Overseas migration numbers have nearly halved from around 60,000 per year in 2008-09 to just over 30,000 in 2010-11 while interstate migration has fallen from around 27,000 in 2007-08 to less than 10,000 in 2010-11.
The Midwood report notes that he recent downturn in Queensland net overseas migration is clearly a result of the lack of employment opportunity.
“With Queensland’s two biggest employers, construction and hospitality industries in the worst position we have seen since pre-GFC, migrants are choosing to settle elsewhere,” says the Midwood report.
The Midwood report shows that the number of apartments approved for development increased over the six months to June 2012 from 450 to 490, but numbers have been trending down since the GFC, when there were more than 1,800 apartments approved in the second half of 2007.
 
</body></html>

lschlesinger-FZcF9M3vE6

Heavily discounted Hilton Surfers Paradise the only notable Gold Coast high-rise seller in November quarter: Midwood 

<html><body>
The Argo hotel in South Yarra will be transformed into a two-level boutique apartment complex with Pace Development Group at the wheel.
Located at 62-74 Argo Street – with frontages on Hyland Street and Moore Street – the 1,407-square-metre property will comprise 39 one- and two-bedroom apartments, to be known as Argo Apartments.
<img alt="arog2" src="/images/stories/2012/12/argo.jpg" width="470" height="282">
One-bedroom apartments will range from $389,000 to $469,000.
Two-bedroom apartments will range from $579,000 to $699,000.
Depending on their taste, residents may choose from either a light or dark colour scheme for their interior.
<img alt="arog2" src="/images/stories/2012/12/arog2.jpg" width="470" height="282">
Architects ROTHELOWMAN will combine the existing façade of the building with modern architecture.
The <a target="_blank" href="/news">South Yarra</a> building was built circa 1866 and was formerly known as Sheppard’s after Thomas Sheppard, the first licensee.
In 1927, plans were submitted for the rebuilding of Sheppard’s by the interwar architect Gordon J Sutherland, and more work took place circa 1974 – around the same time it was renamed the New Argo Inn. Its facade will be included in the new design.
The New Argo Inn operated as a live music venue and then functioned as a fine dining restaurant.
Argo Street gets its name from the Argo immigrant sailing ship in 1857.
<img alt="argo2" src="/images/stories/2012/12/argo2.jpg" width="470" height="265">
“We really wanted to create a development that was reminiscent of the classic ideals that have made South Yarra so sought after for so long,” says Darly Wilkinson from Pace Development Group.
“An intimate and exclusive development that allows the resident to enjoy the best of the iconic neighbourhood, but we removed from the hustle and bustle,” Wilkinson says.
Pace is understood to have secured the development site for around $5.3 million. It was listed with price expectations of around $6.5 million, according to The Age.
It was owned by investors, including George Saade, a developer and the former owner of Armdale restaurant Giorgios, and David Tamir, whose company paid $3.65 million in 2006 when it bought the site from a syndicate that included members of the Shulkes, Graeve and Blau families.
</body></html>

ntrotman-Et3xWpamVh

A new tune for heritage building as Argo Apartments takes shape in South Yarra

<html><body>
Developer Hamton is adding luxury riverfront homes to the mix of housing currently in the works or built in the inner-Melbourne suburb of Abbotsford, which is becoming something of a development hotspot. 
<img src="/images/stories/2012/12/riverhaven.jpg">
Hamton's Riverfront Terrace Homes at Haven will comprise 15 two-level residences, with nine already sold since the July launch. Two-bedroom homes will start from $820,000, the three-bedroom terraces start from $930,000, and the four-bedroom models start from $1.91 million.
<img src="/images/stories/2012/12/riverhaven2.jpg">
The Hamton project is one of several that were approved before the Victorian government instituted a nine-storey height limit on all new development abutting the Yarra River. 
Hamton joint managing director Paul Hameister says the homes, about five kilometres from the CBD, are affordably priced.
“We wanted to design a series of high-end homes where the natural surrounds were the hero, creating an urban yet quintessentially Australian lifestyle in the heart of Melbourne. Riverfront homes in this location sell for well in excess of $6 million, meaning our low-maintenance homes represent outstanding value,” says Hameister.
<img src="/images/stories/2012/12/havenriver.jpg">
Many of the homes include a private walkway to the rivefront Yarra Trail.
The Riverfront Terrace Homes at Haven part of stage two of Hamton's three-part Abbotsford development. The first stage was the 201-unit Eden, with all units sold out. The second stage is Haven, with 75% of its 148 units sold since its launch just over a year ago. The three together are set to have 560 apartments. 
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site," says Hameister.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
<img src="/images/stories/haven3.jpg">
Haven's apartment component will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street.
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
 
<hr class="system-pagebreak">
 
<a target="_blank" href="/news">Abbotsford </a>is shedding its industrial past and buyers look for inner-city living on the Yarra River.
Some developers are revamping the existing factory and warehouse buildings to create contemporary designs with a nod to the past, while others are going the more modern route.
<img src="/images/stories/trenerry-river.jpg">
One example of the former is the Trenerry project (pictured above and below), a 109-unit development in a heritage industrial building. All 109 have been released to the market, with the final release of 33 launching in July. Some 87 units have sold, including more than a third of the final release.
“It also features a chimney stack, giving Trenerry a look and feel that is unmistakably Abbotsford,” says Rob DiCintio, director of Trenerry Property Group.
<img src="/images/stories/trenerrycar.jpg">
Builder Hamilton Marino has begun construction on the development, which is due for completion in mid-2013.
The apartments went on sale in October last year.
Its one-bedroom, one-bathroom apartments are priced from $465,000, with the two-bedroom, two-bathroom apartments from $530,000. Both configurations come with one car park. Some 92 of the two-bedroom apartments will have two-bathrooms, along with all the three-bedroom apartments.
The average apartment size will be 75 square metres internally, plus all apartments come with balconies, offering riverfront, CBD or Studley Park views. The development comes with easy access to the Capital City Trail.
It has been designed by Carabott Holt Architects.
 
<hr class="system-pagebreak">
 
<img src="/images/stories/greensquare2.jpg">
A developer taking the opposite approach in Abbotsford is Salta, whose Green Square development (pictured above and below) is ultra-contemporary with an emphasis on sustainability.
Far from an industrial focus, the appropriately named Green Square aims to embrace the natural environment, with numerous open spaces for residents.
<img src="/images/stories/greensquare1.jpg">
“The architectural vision for Green Square is to bring together the energy of contemporary urban living with the calm and gentle amenity of the adjoining Yarra River that will imbue the green open spaces permeating the project,” says Charles Justin of SJB Architects, which is designing the project.
The development will feature 467 one- and two-bedroom apartments across four buildings, 210 one-bedroom units and 257 units with two bedrooms. Just over 300 apartments have sold so far. Of the two-bedders, 222 will include two bathrooms.
One-bedroom apartments will range in size from 47 square metres to 57 square metres and start from $369,000.
<img src="/images/stories/greensquare5.jpg">
Two-bedroom apartments, which start from $525,000, range in size from 63 square metres to 92 square metres. All of the units come with outdoor areas.
<img src="/images/stories/greensquare6.jpg">
The development launched in February 2011. Construction has started and is due to finish in May 2014.
So far, two-thirds of buyers who have been owner-occupiers.
Jack Merlo of Jack Merlo Design says buyers are drawn to a sense of community fostered by the project.
<img src="/images/stories/greensquare7.jpg">
“The importance of recreational space is often overlooked when designing residential apartments – we have been fortunate to set a new precedent with Green Square. The combination of semi-secluded and open spaces encourages people to indulge in private and public amenities including an edge pool, barbecue areas, day beds and shaded spaces,” Merlo says.
And other developers agree.
“The desire for waterfront living in city-fringe areas is an evolving trend in the Melbourne market,” says Rob DiCintio, director of Trenerry Property Group.
</body></html>

Hamton's riverfront homes the latest in Abbotsford living as Melbourne suburb sheds industrial past

<html><body>
Family businesses in Australia have grown at a lesser rate than the global average over the past year, a report from PwC has warned, with the accounting firm warning family-run businesses should focus as much on innovation as possible.
And while businesses still see <a href="https://www.smartcompany.com.au/buy-or-sell-a-business/20120120-family-owned-businesses-facing-leadership-crisis-and-ignoring-succession-plans-new-report-reveals" target="_blank">succession planning</a> as a high priority, the company says entrepreneurs need to be mindful of how they can transfer ownership in a way that minimises conflict and risk to the business.
"I know there are some clients that are not aware of the potential for conflict, and it's usually because the founder keeps a tight rein on things and usually his or her decision is final," PwC private clients partner Kel Fitzalan told SmartCompany this morning.
"We advocate having family constitutions in place in order to try and avoid those concerns."
The report, which surveyed 2,000 family businesses worldwide and 50 in Australia, found that 56% of local businesses experienced growth over the past year compared to 65% globally. And 26% of businesses shrunk in size, compared to 19% globally.
This makes sense, Fitzalan says, as some industries in Australia have been recording a slower growth rate over the past year.
"That was a little surprising, but it's probably telling. We've seen sectors besides mining and services fall behind, with sectors like retail and construction suffering. It doesn't surprise me we may be behind the global trend."
<a href="https://www.smartcompany.com.au/managing-people/20090828-develop-succession-planning" target="_blank">Succession planning is a big issue</a>, with 38% of businesses saying they intend to pass on management to the next generation. But succession planning is low on the list of company priorities, with Australian businesses citing it as ninth most important.
Fitzalan says it's crucial for businesses to start succession planning sooner rather than later.
"The better transitions occur because the handler is able to take over, but in the majority of cases it's much too late and there's an unexpected event."
"Then you see the next generation confused, unsure of who's actually supposed to be taking over the company."
An unusual finding was that companies placed "innovation" as the third highest priority. Fiztalan says it's important for family businesses to continually chase new ideas and products, as many can become trapped in a consistent way of doing business from generation to generation.
He points to the government's R&amp;D programs as s potential source of inspiration for pursuing innovation projects.
"These are the sorts of things family businesses will have to use to differentiate themselves. They need to have some sort of edge, and a focus on innovation is the way to do that."
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
</body></html>

pmcstafford-pr9eMARWoN

Australian family businesses falling behind and must plan for succession: PwC

<html><body>
Last week, the combined capital city auction clearance rate was recorded at 50.2%, up from 47.8% the previous week. At the same time last year, the clearance rate for the combined capital cities was recorded at 45.7%. Similar to the trend seen with clearance rates, the volume of auctions that were held across the capital cities was also higher, when compared with last year, with 2,155 auctions held last week, compared with 1,557 at the same time last year.
In Melbourne last week, the clearance rate was recorded at 56.6%, up from 52.5% the previous week. There were just under 1,000 auctions held in Melbourne over the week. Sydney’s auction clearance rate remained unchanged last week, at 51.5%, while auction volumes across the city decreased slightly from 777 the previous week to 729 last week.
There are 474 auctions scheduled across the capital cities over the next week. It is expected that the auction market will remain quiet over the Christmas and New Year period, with volumes slowly beginning to increase in late January.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/12/rpdec19.gif"><img src="/images/stories/2012/12/rpdec19thumb.gif"></a>
</body></html>

po-LsXgBTHBmX

Auction clearance rates continue to rise, with the maket to remain quiet over Christmas: RP Data

<html><body>
A tentative recovery in the housing market remains on course with the RBA deciding to cut the cash rate “on balance” due to concerns about the softening job market and to provide support to the non-mining sectors of the economy as the investment peak approaches.
The minutes indicate the inflation outlook provides scope for further rate cuts if needed, with a “small decline in the growth of wages, which was consistent with the softening in the labour market seen over the past year”.
The minutes also suggest an easing bias remains in the minds of RBA board members, with the comment that “forward-looking labour market indicators had generally declined recently, suggesting that employment growth would remain modest in the months ahead”.
A statement about lending rates “now clearly below their medium-term averages” but remaining above the levels reached in 2009 also suggests an easing bias.
As with the November minutes, the December minutes make a number of positive observations about the housing market.
“Forward-looking indicators of residential construction over recent months, including building approvals, continued to point to a modest recovery in that sector over the period ahead,” say the December minutes.
“This was likely to be supported by the pick-up in dwelling prices, sales activity and rental yields over recent months. In addition, loan approvals had moved a little higher since the middle of the year.”
The RBA also notes “tentative signs that dwelling investment was turning up, but the outlook for non-mining investment overall in the year ahead remained subdued”.
The November minutes noted tentative signs of recovery in the property market with the RBA board noting that “new dwelling prices had picked up unexpectedly” and that there had been a “softening in the inflation of rents in the [September] quarter”. The board also said that there were “tentative indications that housing activity may be reaching a turning point”.
“Over recent months, the number of private residential building approvals had increased, as had dwelling prices, and auction clearance rates in Sydney and Melbourne had continued to rise,” said the RBA board.
The December minutes show that softer labour market conditions and concerns about the outlook for non-resource investment where the primary reasons for the December rate cut.
“At this meeting, the information on labour costs and softening labour market conditions suggested that the inflation outlook still afforded the board some scope to provide additional support to demand.
“Further confirmation that the peak in resource sector investment was near, and that the short-term outlook for non-resource investment remained subdued, indicated that there was a case for the board to provide that support. The Board considered whether to respond to this case in the near term or wait for further information. On balance, members saw merit in reducing the cash rate at this meeting,” say the December minutes.
 
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News