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>

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Ellen Walker

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

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Since the GFC excessive debt has been a source of volatility and constraint for various countries, notably the <country-region>US</country-region> and <place>Europe</place>. Initially the focus was on the private sector, more recently the public sector. <place><country-region>Australia</country-region></place> has relatively low public debt, but how does it stack up in terms of total debt? This is particularly relevant in assessing the vulnerability of <country-region>Australia</country-region> should something go wrong, e.g. if <place><country-region>China</country-region></place> collapses and our trends of trade plummeted.
Total debt outstanding
The next table shows total debt outstanding, i.e. public and private, as a percentage of GDP. Quite clearly <place><country-region>Australia</country-region></place> ranks a fair way down the list. As is well known, <place><country-region>Australia</country-region></place>’s level of public debt is very low. Where <country-region><place>Australia</place></country-region> is a bit more vulnerable is in terms of private debt, and this is largely due to a relatively high level of household debt.
Household debt in Australia rose strongly over the 20 years prior to the GFC as interest rates trended down, financial competition led to increased access to debt and relatively stable economic conditions and rising asset prices encouraged households to gear up.
<img src="/images/stories/2012/11/olivernov9.png" width="470">
Debt outstanding, % GDP
<table width="336" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="81">
2012 data
</td>
<td valign="top" width="85">
Public
</td>
<td valign="top" width="85">
Private
</td>
<td valign="top" width="85">
Total
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Netherlands</country-region></place>
</td>
<td valign="top" width="85">
68
</td>
<td valign="top" width="85">
680
</td>
<td valign="top" width="85">
748
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Japan</country-region></place>
</td>
<td valign="top" width="85">
237
</td>
<td valign="top" width="85">
392
</td>
<td valign="top" width="85">
629
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Denmark</country-region></place>
</td>
<td valign="top" width="85">
47
</td>
<td valign="top" width="85">
551
</td>
<td valign="top" width="85">
598
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>UK</country-region></place>
</td>
<td valign="top" width="85">
89
</td>
<td valign="top" width="85">
460
</td>
<td valign="top" width="85">
549
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Belgium</country-region></place>
</td>
<td valign="top" width="85">
99
</td>
<td valign="top" width="85">
390
</td>
<td valign="top" width="85">
489
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>France</country-region></place>
</td>
<td valign="top" width="85">
90
</td>
<td valign="top" width="85">
396
</td>
<td valign="top" width="85">
486
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Spain</country-region></place>
</td>
<td valign="top" width="85">
91
</td>
<td valign="top" width="85">
390
</td>
<td valign="top" width="85">
481
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Sweden</country-region></place>
</td>
<td valign="top" width="85">
37
</td>
<td valign="top" width="85">
420
</td>
<td valign="top" width="85">
457
</td>
</tr>
<tr>
<td valign="top" width="81">
Euro zone
</td>
<td valign="top" width="85">
94
</td>
<td valign="top" width="85">
361
</td>
<td valign="top" width="85">
455
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Portugal</country-region></place>
</td>
<td valign="top" width="85">
119
</td>
<td valign="top" width="85">
294
</td>
<td valign="top" width="85">
413
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Norway</country-region></place>
</td>
<td valign="top" width="85">
50
</td>
<td valign="top" width="85">
341
</td>
<td valign="top" width="85">
391
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Korea</country-region></place>
</td>
<td valign="top" width="85">
34
</td>
<td valign="top" width="85">
354
</td>
<td valign="top" width="85">
388
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Italy</country-region></place>
</td>
<td valign="top" width="85">
126
</td>
<td valign="top" width="85">
258
</td>
<td valign="top" width="85">
384
</td>
</tr>
<tr>
<td valign="top" width="81">
US
</td>
<td valign="top" width="85">
100
</td>
<td valign="top" width="85">
240
</td>
<td valign="top" width="85">
340
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Australia</country-region></place>
</td>
<td valign="top" width="85">
30
</td>
<td valign="top" width="85">
291
</td>
<td valign="top" width="85">
321
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Hungary</country-region></place>
</td>
<td valign="top" width="85">
74
</td>
<td valign="top" width="85">
241
</td>
<td valign="top" width="85">
315
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Germany</country-region></place>
</td>
<td valign="top" width="85">
83
</td>
<td valign="top" width="85">
225
</td>
<td valign="top" width="85">
308
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Canada</country-region></place>
</td>
<td valign="top" width="85">
88
</td>
<td valign="top" width="85">
190
</td>
<td valign="top" width="85">
278
</td>
</tr>
<tr>
<td valign="top" width="81">
<place><country-region>Greece</country-region></place>
</td>
<td valign="top" width="85">
171
</td>
<td valign="top" width="85">
103
</td>
<td valign="top" width="85">
274
</td>
</tr>
</tbody></table>
Source: IMF, Haver Analytics, Ned Davis Research, AMP Capital
The GFC has brought a more cautious attitude to debt on the part of Australians thanks to weaker asset prices, worries that house prices might go the same way as those in the <country-region>US</country-region> and parts of <place>Europe</place> and increased job insecurity, and this has been accentuated by a tightening in lending standards. Nevertheless, debt levels have basically stabilised relative to income in contrast to other countries where they have fallen, although this in large part reflects defaults in the <country-region><place>US</place></country-region>. See the previous chart. What’s more, with soft share markets and house prices and rising incomes in recent years, Australian household balance sheets as measured by net wealth (assets less liabilities) relative to income have deteriorated.
<img src="/images/stories/2012/11/olivernov91.png" width="470">
Source: OECD, RBA, AMP Capital
Similarly, soft asset prices at a time of stable debt levels have seen gearing, as measured by debt to assets, rise.
<img src="/images/stories/2012/11/olivernov92.png" width="470">
Source: OECD, RBA, AMP Capital
Against this several things are worth noting. First, reflecting household caution the household saving rate is now very high in Australia at around 10%, compared with just 3 to 4% in the US. This has been mainly flowing into bank deposits.
<img src="/images/stories/2012/11/olivernov93.png" width="470">
Source: OECD, AMP Capital
 
<hr class="system-pagebreak">
 
Finally, the riskiness of Australian housing loans has been falling. Non-performing loans remain low. Low-doc loans are only around 5% of outstanding housing loans and less than 2% of new approvals. And around 50% of home borrowers are ahead on repayments. And all mortgages are full recourse, meaning Australians cannot simply walk away from their homes if they have negative equity. And there is plenty of scope for the RBA to cut interest rates further.
Foreign liabilities
One area where <place><country-region>Australia</country-region></place> clearly is more vulnerable is in foreign debt. Thanks to a chronic current account deficit ranging between 2% and 6% of GDP – even through the mining boom – <country-region><place>Australia</place></country-region> has remained reliant on foreign capital. As a result net foreign liabilities, which includes debt and equity and is labelled net international investment position in the next chart, is relatively high at 60% of GDP.
<img src="/images/stories/2012/11/olivernov94.png" width="470">
Source: IMF, ABS, AMP Capital
Quite clearly <country-region>Australia</country-region> would be vulnerable should foreign investors change their view of investing in <place><country-region>Australia</country-region></place>. Mind you, this has been a risk since the 1980s!
What’s the risk?
While <place><country-region>Australia</country-region></place>’s debt levels are not causing problems now, this is not to say they are not without risk. For example, just before the GFC Ireland’s public debt to GDP ratio was the same as <country-region><place>Australia</place></country-region>’s is now, but this changed when house prices collapsed and banks had to be recapitalised.
The main risk is that something happens that severely affects the ability of households to service their mortgages and results in foreign investors changing their attitudes towards investing in <country-region><place>Australia</place></country-region>. Obviously, the RBA is unlikely to trigger the former by raising interest rates too far as it seems very sensitive to household fragility.
The prime risk is that <country-region>China</country-region> has a hard landing causing a slump in <country-region><place>Australia</place></country-region>’s export earnings, a sharp rise in unemployment, defaults, bank problems necessitating recapitalisation by the Government and a loss of confidence on the part of foreign investors.<a name="_ftnref1" href="#_ftn1">[1]</a>
However, while this is clearly a risk several factors are worth noting: Firstly, the tolerance for a hard landing in China is very low in view of the social unrest it would trigger, and in any case recent Chinese economic indicators suggest that growth there may be bottoming around 7.5%.
Secondly, while house prices remain overvalued, the risk of a house price collapse remains low given undersupply, low loan to valuation ratios and full recourse loans in <place><country-region>Australia</country-region></place>.
Thirdly, if the economic environment for <country-region><place>Australia</place></country-region> sours significantly there is still plenty of scope for the RBA to cut interest rates. In fact 325 basis points worth, which would translate roughly into a fall in the standard variable mortgage rate to 4% if the banks’ continue to pass though 80% of RBA cuts. This would translate to an annual interest bill saving of around $6500 for someone with a $300,000 mortgage.
Fourthly, unlike the situation in countries like Japan or peripheral countries in Europe, Australia’s currency acts as a countercyclical buffer and would likely collapse if there were a big collapse in Australia’s export prices (they haven’t really fallen so much so far, so the fact that the $A is around $US1.04 is not surprising). This could cause the $A to easily fall back towards $US0.60 delivering a massive boost to industries such as manufacturing, tourism and higher education that have struggled through the mining boom.
Finally, pent-up demand exists in big parts of the Australian economy, in part due to measures to make way for the mining boom. Housing construction and retailing have been running well below capacity. This can be unleashed as mining slows and lower interest rates, and possibly a lower $A would be part of the mechanism to achieve this.
Concluding comments
<place><country-region>Australia</country-region></place> is not without its risks on the debt front and to be safe needs to continue to head back towards a budget surplus (to cap public debt) and for households to continue to run relatively high savings in order to boost their net wealth and cap household debt. However, the probability of a major debt crisis occurring is likely low as China is unlikely to have a hard landing, there is still plenty of scope to cut interest rates and the Australian dollar is likely to fulfil its role as a shock absorber in the event of a big loss to national income.
<div>
 <hr width="33%" size="1" align="left">
<div>
<a name="_ftn1" href="#_ftnref1">[1]</a> See “<place>Australia</place> – the going gets tough for the lucky country,” Oliver’s Insights, September 2012, which discussed this scenario.
</div>
</div>
Dr Shane Oliver is head of investment strategy and chief economist at <a href="https://www.ampcapital.com.au/" target="_blank">AMP Capital</a>
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soliver-smf6LQXgW9

Australian economy vulnerable due to relatively high levels of household debt: Shane Oliver

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54 Nasmyth Street, Young, NSW, 2594 <img src="/images/stories/2012/11/naysmith.jpg" width="470">
This two-bedroom cottage in the NSW town of Young was recently rented for $150 per week and is currently vacant. LJ Hooker agent Christian Rowan says it would be a great investment opportunity. It is on a 758-square-metre block with a garage and is within walking distance of schools.
Rowan is marketing the property<a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $100,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 7.8% at a rent of $150 per week,  well above the gross rental yield for Young houses of 5.6%, 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 $2,000 and over five years to be $4,000.
The median house price in Young rose 6.5% in the past year and 13.6% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Young, see the RP Data suburb page.</a>
The property will go to auction Saturday, November 10 at 10am. 
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Friday form guide: Yields of up to 7.8% in Young

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A Kirribilli unit with no car parking will test the blue-chip locale this weekend.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a target="_blank" rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
In Sydney the only potential hiccup for 4/75 Kirribilli Avenue, <a target="_blank" href="/news">Kirribilli</a>, is the lack of car parking. However agent Catherine O'Neill from Laing &amp; Simmons is not too concerned about the car parking as there is no need in this bluest of blue-chip locations.
The one-bedroom apartment occupies prime Sydney Harbour waterfront land and is only a short walk to Kirribilli village, Milsons Point train station and ferry. The new owner will have plenty of houseguests this New Year’s Eve with prime firework viewing position.
The deceased estate has attracted strong interest from buyers with more than $450,000 to spend.
<img src="/images/stories/2012/11/kirr.jpg">
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Auction tipping: No parking in the bluest of blue-chip Kirribilli locations

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There are many things that give agents headaches when trying to sell a property, but trying to re-sell a property that has just sold is one of the hardest hurdles to overcome.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
The agent will have to resell 11 Struan Street, <a target="_blank" href="/news">Toorak</a>, which sold privately in May this year for $3 million, but the purchaser was unable to complete settlement. The issue is the bar has now been set, and any price under $3 million will be a disappointment for the vendor.
<img src="/images/stories/2012/11/struan.jpg">
RT Edgar agent Anthony Grimwade has indicated most interest is coming from developers, who are keeping their cards close to their chests. They do not see a huge amount of value in the house, it is the almost 800-square-metre block of prime Toorak land they have their eyes on.
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Melbourne auction tipping: An attempt to resell in Toorak

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The low volume of auctions in Victoria means not much can be gleaned from last weekend's auction results, says the Real Estate Institute of Victoria.
<iframe src="https://player.vimeo.com/video/52779566" width="400" height="300" frameborder="0" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>
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rlarocca-zWhvjay44N

More homes sold by private treaty in flat market: REIV

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Over the coming week, there are 1,919 auctions scheduled across the capital cities, which equates to a busy auction week.
In the week ending November 4, 2012, the auction clearance rate for the combined capital cities was recorded at 55.2%, increasing from the previous week’s clearance rate of 53.1%, according to RP Data.
Across the capital cities, there were 1,142 auctions held over the past week, which is lower than the previous week.
At the same time last year, the number of auctions held was just under 1,600 auctions across the capitals.
The clearance rate over the past week was recorded at a much higher rate than the same time one year ago, when it was recorded at 44.2%.
In Melbourne, Australia’s largest auction market, the clearance rate was recorded at 60% last week, a decrease from last week’s clearance rate of 61.5%. There were 161 Melbourne auctions scheduled over the past week given the Melbourne Cup carnival distraction.
This weekend there are around 800 auctions scheduled across Melbourne.
In Sydney, auction clearance rates increased to 60% last week from 55.6% the week prior. There are about 550 Sydney auctions this weekend.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/10/rpnov71.gif" title="Click to enlarge"><img src="/images/stories/2012/10/rpnov71thumb.gif"></a>
 
 
 
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po-LsXgBTHBmX

Busy auction weekend ahead, with clearances increasing: RP Data

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In my<a href="https://www.propertyobserver.com.au/developments/cbus-property-s-mark-percy-in-conversation-with-colliers-international-s-peter-chittenden/2012101557171" target="_blank"> recent conversation with Mark Percy</a>, executive manager of residential of Cbus Property, we explored some of the main issues confronting our sector. I was also very pleased to hear Mark express some refreshing thoughts across a range of ongoing topics impacting the housing market, as well as some timely points directly related to project marketing.
“In general I think that the marketing has kept pace but right now we are looking at a number of core trends and pressures where the impact of finance is central and where incentives have come into the market.  If we are talking about incentives, these can come in two forms, government incentives and private incentives from the developer,” says Mark.
According to Mark, reaching out to attract consumers via the use of incentives can and does produce mixed results but he is cautious about how they are used.
“Many of the government incentives that are introduced do distort the market.  We now have across Australia a patchwork of offers in various forms that vary from state to state.  It would be best, if incentives are available (such as reductions in stamp duty), they were offered across the board, more or less to all buyers evenly.
“Just stimulating one sector can potentially distort the overall market.  While one sector may benefit from the stimulus, it is likely that other market segments may be adversely affected.”
However, Mark believes that the developer should ideally not directly offer sales incentives – price is the main driver for a purchase decision.
“Price alone is far more transparent than developer rebates or giveaways that I believe buyers do not really trust.  Buyers do respond to price reductions that may be negotiated through the sales negotiation process.  It’s better to concentrate on getting right upfront the asking sales price, facilities proposed, quality and design of the project – these are the key factors to get concentrate on and then normally incentives will not be required.”
Mark did agree that existing facilities in an local area are key marketing elements, including those that are already established and in, some cases, those that are subsequently upgraded as a result of a new developments bringing more people to the area.
“Access to a range of local facilities that are not directly maintained by the owners corporation will appeal to buyers.  Reflecting on this, we have already seen the spread of 24-hour gymnasiums, as just one example, plus the spread of a new generation of ‘corner stores’ and take-away food outlets.  They to some degree reflect the needs of higher-density living.”
According to Mark, when a new project has easy and convenient access to a range of existing facilities, this is a clear marketing positive as the project does not need to accommodate or duplicate these facilities.  These facilities are available for use from the day of moving in.


<hr class="system-pagebreak">
Match buyer needs no matter how specialised
Along with Mark, I would agree that apartment buyers will always look to access nearby services and facilities; however the supply of good quality in-fill sites is becoming limited.  They are becoming harder to find, in NSW there is much more land available in the outer suburbs and, as inner-city sites dry up, there will be a challenge to match buyer expectations.
“I think that while the balance of local facilities may not always be perfect, as a developer, Cbus Property needs to carefully look at what core facilities we must provide to match market expectations, no matter how specific or difficult they might be to provide.”
“For example at The Residences in Sydney (where our role was a financial one), apartments in the development, which are at high-end of the market, a wine room was provided where each apartment owner could store their wine in a dedicated individual lock-up storage area.
“This was a very specific marketing exercise, with each apartment having access to their own store for at least 100 bottles in a fully climate-controlled environment – it was very well received.  It’s similar to the garden example I spoke about earlier and, again, shows the importance of knowing what facilities your target market will value.”
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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New development marketing must be targeted: Mark Percy in conversation with Peter Chittenden

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A Northcote property featured in this week's Property Tycoon auction tipping competition was passed in but sold shortly after auction this weekend, but small land size deterred buyers in Birchgrove.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a target="_blank" rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
Quoting the price range for a property can be a tricky business for real estate agents. Quote it too low, and an agent will cop flack for underquoting. Quote too high and the bidders are less likely to turn up.
<img src="/images/stories/2012/10/membry.jpg">
Bev Adam from Jellis Craig quoted 6 Membry Street, <a target="_blank" href="/news">Northcote</a> (pictured above), accurately on Saturday. The $1.25 million to $1.35 million quote was a very good indication of value, however, due to many years of underquoting most buyers have trained themselves to factor in a 10% to 15% premium on top of the quote. In this case the buyers correctly did not see value at $1.5 million and as a result the property was passed in on a vendor bid of $1.25 million.
As is often the case the buyers came out of the woodwork once the auction had finished when they realised the reserve was more in tune with their expectations. This created a quasi-auction after the auction and a flurry of negotiations ensued. The property sold for an undisclosed amount just above $1.35 million in the hours after the auction.
<img src="/images/stories/2012/10/birchgrove.jpg">
It was a lack of buyer interest rather than a quoting issue at 10 Ballast Street, <a target="_blank" href="/news">Birchgrove </a>(pictured above). The lure of a waterside property failed to get the buyers’ juices flowing. Good land size is still the main driver of the market in Sydney, and given 10 Ballast Street sat on less than 400 square metres many buyers opted to wait for a better option.
Sally Hampshire from Laing &amp; Simmons passed the property in on a vendor bid of $2.7 million. Just over a quarter of tippers thought the property would be passed in.
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Melbourne auction tipping competition property sells after auction, but Sydney property can't get over the line

<html><body>Australian Property Monitors (APM) has released a list of results from 357  auctions in Sydney for the weekend of November 3. The clearance rate was 65.8%. <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>

APM's 363 Sydney auction results show 65.8% clearance rate

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It’s becoming more obvious that Australian politics is nothing more than smoke and mirrors. Fort Fumble this week released its <a title="Asian Century" href="https://asiancentury.dpmc.gov.au/" target="_blank">Asian Century</a> white paper. Australian business leaders doubt the government has the determination or resources to carry out the ambitious proposals – <a title="flat reception for white paper." href="https://www.smh.com.au/business/flat-reception-for-white-paper-20121029-28dsr" target="_blank">flat reception for white paper.</a> Alan Kohler wrote on Business Spectator <a title="White paper, wish paper " href="https://www.businessspectator.com.au/bs.nsf/Article/Australian-in-the-Asian-Century-white-paper-pd20121029-ZHRJS?OpenDocument&amp;emcontent_Kohler" target="_blank">White paper, wish paper</a>: "Reading the white paper called “Australia in the Asian Century” is a very surprising and uplifting experience: it lists all these wonderful things that are going to happen to our nation by 2025. I had no idea."
I did read the white paper, which took me back to the <a title="CEO – Pulse " href="https://www.businessspectator.com.au/bs.nsf/full-coverage?openview&amp;restricttocategory=ceo+pulse" target="_blank">CEO – Pulse, </a>where last quarter the CEO scorecard for the government’s performance in managing the economy was steady at 2.9 out of 10.
Remember the aim of past Treasury secretary Ken Henry’s tax review was to have a root-and-branch look at the Australian tax system by designing something that would/should position Australia to best deal with the challenges that lie ahead? History shows that next to nothing eventuated from the proposals so I believe my cynicism is well founded. Australia’s governments are not in a financial position to fund such far-fetched, imaginary proposals.
I’ll keep harping on because I believe Australia’s infrastructure problems have now reached diabolical proportions simply because we can’t afford to fund progress.
<a title="Future Fund not an infrastructure dump ground: Costello " href="https://www.businessspectator.com.au/bs.nsf/Article/Future-Fund-not-an-infrastructure-dump-ground-Cost-pd20121026-ZFQH2?OpenDocument&amp;src=mp" target="_blank">Future Fund not an infrastructure dump ground: Costello </a>which is a very fair assessment – it should not be used as a “dropping pond” for bad assets. Biggest embarrassment of the week <a title="$1b error: NSW swings from deficit to surplus " href="https://www.smh.com.au/nsw/1b-error-nsw-swings-from-deficit-to-surplus-20121031-28j8s" target="_blank">$1billion error: NSW swings from deficit to surplus </a>– hello! Only incompetent fools could make such an embarrassing error.
This takes me to the best article of the week (in my opinion) by Robert Gottliebsen – <a title="Removing the bloat from the public service." href="https://www.businessspectator.com.au/bs.nsf/Article/Removing-the-bloat-from-the-public-service-pd20121030-ZJS22?OpenDocument&amp;src=mp" target="_blank">Removing the bloat from the public service.</a> “Today’s graphs from Accenture should scare every Australian. We can’t even contemplate being a leader in Asia until we tackle the abysmal state of our federal, state and local public services. The inefficiency and waste in these public services is sucking Australia dry and Accenture warn that unless we do something about it, our ageing population means that Australia faces a grim future funding squeeze.”
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Two weeks ago we reported that the number of Mosman houses on the market was 22% down on this time last year. Last week brought a slight increase to 23%, this week it has climbed to 27%. We still predict this figure will jump as high as 35% in coming weeks.
Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" target="_blank">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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