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>Australian Property Monitors (APM) has released a list of results from 273 auctions in Sydney for the weekend of June 23. The clearance rate was 56%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 273 Sydney auction results show 56% clearance rate

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For the many people who were interested in the property at 2/4 Shakespeare Grove Hawthorn there was one thing more important to them than location – their pets. Unusually, the owners’ corporation in this block does not allow pets, and this fact ruled many potential buyers out of contention.
For those who want to have a harmless punt, there's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five properties featured in the competition this week is <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-110646605" rel="nofollow">2/4 Shakespeare Grove, Hawthorn (pictured below).</a>
<img src="/images/stories/2012/06/shakesp.jpg">
Luckily for the vendor there was one potential buyer in the crowd of around 50 who was not concerned about the “no pets” clause and threw out the only bid of the auction at $1.56 million. With no other interested parties this buyer secured the right to negotiate exclusively with the vendors.
The vendors obviously knew they were sitting on a very good piece of real estate and extracted more than $100,000 from the buyer before the contacts were signed at $1,685,000.
In Sydney the scene was set for a big auction at <a href="https://www.realestate.com.au/property-apartment-nsw-clovelly-110592373" target="_blank">3/10 Ocean Street, Clovelly</a> (pictured below), with six registered bidders and the sight of whales frolicking in the ocean out the front.
<img src="/images/stories/2012/06/oceangrove.jpg">
The property was quoted at $1 million plus and after an opening bid of $950,000 four of the six registered bidders got involved before the bidding came to a halt at $1.22 million.
This figure was not what the vendor had in mind and the property was passed in and negotiations continued inside. A further $3,000 was extracted from the buyer and the property was formally sold for $1.25 million. Cheers.
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'No pets' rule knocks out bidders for Hawthorn auction tipping competition property

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The end of financial year isn’t only about tax. It’s an opportunity to look at your business and make changes. Here’s my eight-part template for fine-tuning a business.
Goals: along with the financial targets – earnings, margins, market share, etc. – are goals such as how to set goals for your employees and how to define what success is within your business. And never forget about the owner’s goals: you have to know what kind of income and fulfilment you desire.
Knowledge: how good are your systems? Do they give you clear and regular reporting? Do they give you measurements against your key performance indicators? Do you use all of your enterprise system’s capability? Do you need a new system, or do you simply need to know more about the system you currently run?
Funding: it’s time to assess your debt, retained earnings and equity. Whether it’s equity or debt, capital comes at a cost, and you should look at how it’s performing and what needs to change in budgeting, dividends and cashflow discipline.
Protection: business owners often overlook basics such as insurances, disaster recovery plans and contingencies for business continuance. If you employ people, they and their families are vulnerable should anything happen to the business or to you. Your family may also rely on you. Have a plan, talk to experts.
Environment: What broader environment is the business is operating in? What is the Reserve Bank saying? Where are interest rates heading? What is happening to your competitors? Is the government talking about your industry? What foreign forces will affect your business? Every owner can start a new financial year with a brief written outline of where his or her business sits in the economy.
Structure: business owners can go for years with a structure that is wrong for the business, inefficient for tax or inflexible in terms of succession. It’s worth having an accountant or solicitor look at your structure. The law provides you with options in how you carry on a business, and you should ensure you are in the structure that best suits you and your plans.
Growth: what did you do in 2011/12 to grow the business? Did it work? This is the time to look at growth strategies. Get your people in one room and listen to ideas – often the best ideas come from the people who are never asked.
Owner: in the end, there has to be a pay-off for the owner. You need an insurance broker to ensure you have products that cover you as a director, you need advice on separate business/personal finances and you should be converting your hard work into a retirement plan with some of the superannuation exemptions and concessions available to business owners, including CGT relief and self-managed super.
A lot of these matters are overlooked in the course of doing business. Use the end of financial year to at least give them some thought.
Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. 
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An eight-step guide to fine-tuning a business

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{yoogallery src=[images/stories/december13local]}
Australand's Carlton development Local is selling briskly, with less than a week left until the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">Victorian government's $13,000 first-home bonus expires on June 30.</a> The bonus applies to all properties purchased by first-home buyers under $600,000 until this date.
Some 68 of the 116 apartments have sold so far, and 35 of these have been since the start of the year. 
<img src="/images/stories/2012/06/localchart2.png">
Owner-occupiers made up 45% of these sales, with overseas and local investors comprising a quarter each. First-home buyers have made up just 5% of the sales so far.
The Local project, which launched in early November, will comprise two low-rise buildings, one designed by Fender Katsalidis architects and the other by Arm Architecture. 
One-bedroom apartments will range in size from 44 to 54 square metres and cost between $350,000 and $450,000.
The majority of the development will comprise two-bedroom apartments ranging in size from 64 square metres to 74 square metres. Prices range from $500,000 to $670,000.
There will be six three-bedroom apartments of between 91 and 96 square metres. Prices start from $780,000 for these units.
Sarah Bloom, development director, built form, of Australand, says the inner-city location appeals to buyers.
“Located only 1.6 kilometres from the CBD, Local is at the very heart of what makes cosmopolitan Carlton the perfect inner-city lifestyle location,” Bloom says.
“Bounded by Palmerston, Canning and Elgin streets, residents will enjoy gracious tree-lined avenues, while stylish restaurants and cafés, great shopping, cinemas, and some of the city’s oldest parks and gardens are all conveniently located.”
Both buildings will have six green star sustainability ratings, with features such as water-efficient fixtures, solar-boosted hot water, rainwater harvesting and future-proofing for greywater supply.
The Fender Katsalidis building includes a communal rooftop with barbecue area and pizza oven.
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Australand's Carlton development Local more than half sold as first-home buyer deadline draws nearer

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FKP’s $150 million Melbourne apartment project Aerial is running behind schedule and settlements will now occur in October, the diversified Queensland-based property group has revealed.
The project was due to be completed in the first quarter of the 2012-13 financial year, but settlements will now only occur in the second quarter.
“The external building company contracted to the Aerial project has now advised that practical completion will be delayed until September 2012, with settlements commencing in October 2012,” said FKP in a statement to the ASX.
The project is being built by Melbourne family-owned building firm Hanson Yuncken, which dates back to 1918 and has completed more than 4,500 projects.
Property Observer understands that weather and union issues may have contributed to the delay with Hanson Yuncken bringing across additional staff from NSW to get the project finished.
“FKP remains committed to delivering a high quality product to the market. Aerial is over 85% pre-sold,” says the developer.
“Given that Aerial will settle after the 2012 financial year, second half distribution is due to be paid, the board has deemed it appropriate to reduce the 2012 financial year second-half distribution from 1.9¢ per share as previously advised at the half year results announcement in February 2012 to 1.4¢ per share bringing the total estimated distribution for the 2012 financial year to 2.8¢ per share.”
FKP’s full-year profit guidance remains unchanged as stated in its half-year results.
The developer says it will deliver an underlying profit after tax in the range of $91.9 million to $104.3 million.
Aerial features 144 individual apartments with a selection of one-, two-, three-bedroom apartments as well as sub-penthouses and penthouses rising above Camberwell Junction.
Around 95% of the sales have been to local buyers, with a mix of owner-occupiers and investors purchasing the apartments.
Commercial retail space has been leased to audio retailer Bang &amp; Olufsen and Jetts Gym. The Meat &amp; Wine Company will lease heritage-listed English, Scottish and Australian (ES&amp;A) Bank building, which has been converted into restaurant space by architects Wood Marsh.
<img src="/images/stories/2012/06/aerial.jpg">
The series of striking, elliptical glass building was designed by architects Woods Marsh and includes two towers, the tallest rising 14 levels.
It is being developed on the former Henley Honda dealership site at the intersection of Burke, Camberwell and Riversdale roads.
In 2009 FKP successfully lobbied the Victorian Civil and Administrative Tribunal (VCAT) to boost the number of apartments in the project by 40% to 144.
FKP had to fight off local residents opposed to the development to win approval for the scheme.
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Completion of FKP’s apartment project Aerial in Camberwell Junction delayed

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The warehouse premises where Channel Ten filmed its ratings dud The Renovators is undergoing something of a major renovation itself – the 3.2-hectare Rosebery site is set to become the master-planned community Rosebery Park, and its first stage, Genesis, has just been released.
<img width="470" src="/images/stories/2012/06/rosebery1.jpg">
Rosebery Park will comprise 550 apartments, and Genesis comprises 105 studios and one-, two- and three-bedroom apartments. Of these, the one-bedders and some of the two-bedroom offerings will be under the $600,000 threshold for buyers to secure the NSW government’s home builders’ bonus, if they purchase before July 1.
<img width="470" src="/images/stories/2012/06/rosebery2.jpg">
Contracts began to be exchanged on June 9, and thus far about 20 units have been sold. Caroline Fagerlund of CBRE, who is marketing the properties, told Property Observer the sales thus far have been to a mix of owner-occupiers and investors, with most of the sold units under $600,000 as buyers secure stamp duty exemption. 
<img width="470" src="/images/stories/2012/06/rosebery3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. <a target="_blank" href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">First-home buyers would probably be wise to wait until October to purchase</a> if they are willing to risk missing out on the last few apartments, but <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">upgraders and investors could miss out on a stamp duty savings of up to $22,490</a> if they don't purchase by July 1.
<img width="470" src="/images/stories/2012/06/rosebery4.jpg">
The 40-square-metre studios start from $340,000, and the one-bedroom-plus study apartments start from $565,000 and are up to 59 square metres. The two-bedroom offerings start from $570,000 and are up to 96 square metres. All of these units would be eligible for the home builders’ bonus.


<hr class="system-pagebreak">
<img width="470" src="/images/stories/2012/06/rosebery5.jpg">
Fagerlund says the most popular offerings so far have been two-bedroom offerings under this price point.
The two-bedroom courtyard apartments are a bit more expensive, starting from $640,000. The three-bedroom apartments range in size up to 116 square metres and begin at $785,000.
<img width="470" src="/images/stories/2012/06/rosebery6.jpg">
TMG is developing the project, which has been designed by architectural firm Bates Smart along with PTW. Interiors are by SJB Interiors, and the project is being marketed by CBRE.
<img width="470" src="/images/stories/2012/06/rosebery7.jpg">
“Rosebery Park will be a model estate for the rest of Sydney to admire, with tree-lined streets, good infrastructure and planned community facilities,” says CBRE director of residential projects Caroline Fagerlund. “This is a lifestyle for today, and capital growth for tomorrow.”
<img width="470" src="/images/stories/2012/06/rosebery8.jpg">
Rosebery Park is just six kilometres from Sydney CBD, and Fagerlund says the location will appeal to owner-occupiers and investors.
“Rosebery is close to many of Sydney’s best recreational attractions, such as our sporting stadiums, top golf courses, Randwick Racecourse, and our world-famous beaches, including Bondi, Bronte and Coogee,” Fargerlund says.
The median sale price for Rosebery units is $527,000, according to RP Data, and the median asking rent is $520 per week.
<img width="470" src="/images/stories/2012/06/rosebery9.jpg">
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Renovators' site Rosebery gets new life as Rosebery Park development: June 30 investor countdown

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9/1 Somers Street, Noble Park, VIC, 3174
<img src="/images/stories/2012/06/somersst.jpg" width="470">
Within walking distance of Noble Park train station, this one-bedroom Noble Park apartment is currently leased to a long-term tenant of 10 years, whose rent has recently been increased to $150 per week, which listing agent Chris Drieberg 0f Stockdale &amp; Leggo says is market rent for the area. 
Drieberg <a href="https://www.stockdaleleggo.com.au/details.asp?internetid=260703&amp;OFFICE_ID=&amp;order=&amp;suburb=3112&amp;surround=&amp;price1=0&amp;price2=9999999&amp;category=&amp;bedrooms=&amp;bathrooms=&amp;garages=0&amp;propertyType=&amp;OFFICE_GROUP_ID=&amp;offset=&amp;st=" target="_blank">is marketing the property</a> with price hopes of $150,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield for Noble Park units of 4.8%, 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 target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $5,000.
The median unit price in Noble Park
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Saturday, July 7 at 11am.
For more information about prices and yields in Noble Park, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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292 Ocean Grove, Laurieton, NSW, 2443
<img src="/images/stories/2012/06/martinst.jpg" width="470">
The tenants of this three-bedroom Laurieton property are paying $1,300 per month in rent, and the 4,496-square-metre block is close to natural features such as the beach, river and lake. 
LJ Hooker agent Martin Newell <a target="_blank" href="https://www.ljhooker.com.au/F87GQH">is marketing the property </a>with price hopes of $300,000 plus, and if it sells for $300,000 that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield of 4.3% for Laurieton houses, 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.
The median house price in Noble Park increased 1.2% in the past year, according to RP Data.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Thursday, July 5 at 6.30pm.
For more about prices and yields in Laurieton, see the RP Data suburb page.
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Friday form guide: Yields of up to 5.2% in Noble Park

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The drivers of change are the ingredients of opportunity.
How these drivers interact and where they interact is the secret to a identifying a successful development.
The common denominator in today’s market is risk minimisation.
Financiers demand it, developers desire it and valuers are tasked with identifying it.
As a consequence the most sought-after sites are those that have an approval, are situated in a triple-A-rated location, with presales on cash deposits, to local buyers with a pre-approved takeout and a fixed-cost lump-sum construction contract to a triple-A-rated builder.
Welcome to Disneyland.
Less sought after are the sites without approval. However, although all major developers are telling us they don’t need an approval, it seems the guidelines on “why not to buy” an unapproved site are presented in a 10-episode mini-series while the “reasons to buy” are written on the back of a napkin. Not helping the situation is that a function of the demand is high vendor expectations.
The truth is that sites that fit the ideal criterion may exist, but they are not for sale.
Identification of a site that can be packaged with a limited risk profile requires a lot of time, effort and cost.
The complexity of the planning regulations in NSW contrives to give the administrators of the planning laws a very powerful instrument that enables them to implement their own personal agenda or refuse an application based upon “community objection “. Further, it remains to be seen if NSW Planning Minister Brad Hazzard’s “radical” overhall of the NSW planning system will rectify some of these planning delays.
Due to the rezoning of lands to accommodate Sydney’s growing population and to satisfy the demands of the market to be located close to community/social amenity and infrastructure, it is often necessary to amalgamate sites.
In the past this task has been the realm of the entrepreneur/ developer or the acquisitions team of a public group, however while still in limited existence the difficulty associated with site amalgamation and the cost has decimated the ranks.
So where do the developers go in today’s market, and how is opportunity identified?
A formal acquisitions strategy needs to be developed that pulls together infrastructure, town planning changes, demographic analysis and an understanding of current/proposed supply so a developer has a clear location-based direction. This strategy will allow for identification of potential sites within a region. Identifying and packaging one of these sites inevitably delivers better returns than a site shopped around to all in sundry the for the past 12 months.
In reality the successful developers have prevailed because they have relied on their existing (albeit shrinking) pipeline or have been lucky enough to be handed the right site. Finding an opportunity requires taking some risk, and limiting the risk by obtaining advice from the outset pays handsome dividends. Meriton, Walkers, Winton, Frasers, Payce, Mirvac and others all limit risk through a managed process.
So identifying the diamond in the rough or the location of the next Carlton United Brewery site, Harold Park, Jacksons Landing, Rhodes, Homebush Bay or South Sydney requires a team effort and old-fashioned instinct.
In reality and as mentioned above the question of “Where are the opportunities in a changing market?” requires identification and interpretation of the following key elements.
 
Infrastructure: What locations will benefit from improved infrastructure over in the short to medium term, for example, transport – such as rail links to growth corridors; express rail services; new light rail; improved bus corridors; key motorway improvements.
Town planning changes: Changes to land use, intensification of use.
Demographics: We are now just days away from the release of the new census data. The first release in six years and understanding population trends will not only reveal opportunity but will be key in pursuing a specific target market. Analysis of area, age characteristics, income levels and population movements is the first step in establishing market growth, product design and accommodation type.
Affordability: Building to a price point is essential for success. Overcapitalisation or constructing the incorrect product type for a particular market can be avoided. However, this mistake is repeated all too often.
The successful development is the one that sells. Therefore all elements must be right if the all sold sign is to be erected.
The voyage of discovery is not in seeking new landscapes but in having new eyes.
Understanding these issues in isolation won’t achieve success, but knowing how they interact will unlock the opportunity.
Sam Barrow is property advisor and valuer for <a href="https://www.landsburys.com.au/" target="_blank">Landsburys Property</a> providing strategic advice, risk analysis and valuation services. Sam has experience in all property types, however specialises in residential and mixed use development projects and master planned communities throughout New South Wales.
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How to identify property development opportunities in a changing market

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Toplace Developments' Botany project Park Grove is 80% sold less than a month after its official launch, with strong investor interest.
Park Grove consists of two low-rise apartment buildings comprising one-, two- and three-bedroom apartments and street-facing townhouses, all set in within a 3,500-square-metre development that includes native parkland.
<img src="/images/stories/2012/06/parkgrove1.jpg">
Apartment prices start at $395,000 for 60- to 62-square-metre studios. One-bedroom apartments start at $477,000, two-bedrooms at $570,000 and three-bedrooms at $670,000. The townhouses start at $850,000.
The project is being marketed by Colliers, and Colliers International residential director Ian Bennett says there has been strong investor interest in the sub-$600,000 category. There have been 120 sales so far.
<img src="/images/stories/2012/06/parkgrove2.jpg">
“Colliers has taken more than a 1,200 enquiries both from both local Botany residents as well as newcomers to the area,” says Bennett. “Well over half of these are from property investors who recognise that the Park Grove development will spark Botany’s metamorphosis from a traditional industrial zone into a master-planned neighbourhood and a new era in modern Sydney urban community living.”
<img src="/images/stories/2012/06/parkgrove3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. <a target="_blank" href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">First-home buyers would probably be wise to wait until October to purchase</a> if they are willing to risk missing out on their first choice of apartments, but <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">upgraders and investors could miss out on a stamp duty savings of up to $22,490</a> if they don't purchase by July 1.
The project is billed as being environmentally friendly with features including cross ventilation, optimal solar access, rainwater harvesting and energy efficient fixtures and fittings.
<img src="/images/stories/2012/06/parkgrove4.jpg">
“Park Grove is designed to accommodate a community which will require close proximity to high-quality local shops, local schools, restaurants, cafes and other amenities, which in turn will unlock the potential of the previously overlooked suburb of Botany,” Bennett says.
“The development will have a new green urban community atmosphere and will be home to a rich and diverse landscape of architecturally designed living environments and abundant open space.”
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Investors snap up units in Botany’s Park Grove with two weeks left before bonus ends: June 30 investor countdown

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Prudent means to be:
<ul>
<li>discreet or cautious in managing one’s activities; circumspect</li>
<li>practical and careful in providing for the future; or</li>
<li>exercising good judgment or common sense</li>
</ul>
It comes from the Latin pr?d?ns, meaning far-sighted.
Everything cycles, but around some form of structure.
An economy is driven by both cyclical (temporary, although often repetitive) changes, as well as structural (longer-lasting and often more painful) forces.
For mine, putting aside the deadheads we currently have in Canberra, the national lack of confidence is more complicated than reasons like our house prices have stopped growing, or we are worried about Europe or the carbon price. We are changing as consumers and have become conservative once again.
The official stats show a healthy economy, yet many think it is weak and demand a cyclical solution – another handout, a tax cut or further drops in interest rates.
RBA head Glenn Stevens laminated as much last week when he grumbled that our current gloomy mood is largely because people are mistaking structural change with cyclical ones. Well, we don’t really like change regardless of what form it takes.
But the real underlying issue here is structural, and cyclical remedies will make very little difference. Just look at what little impact the recent declines in interest rates have had on retail sales or home buying.
Look, too, at the lacklustre influence the recent Queensland housing boost really had on new starts. Ditto – and despite the housing industry’s loud applause – the likely outcome on new construction in New South Wales with last week’s first-home buyer incentives towards new homes. Without greater certainty in the development approval process and an economically feasible solution as to who pays for local infrastructure, the NSW grant for first-time buyers won’t be enough to significantly lift new construction.
Also, most first-home buyers will not be able to get finance. Worse still, valuers will discount the bonus off the purchase price, making settlement even harder to complete.
So what is the big structural change? In short, we have returned to our former prudence.
Household savings dropped dramatically in the 1990s, and in the naughties (yes, spelt correctly) it went negative for a while. Today our savings rate is close to double digits, yet we felt wealthier when we had absolutely nothing in the bank. Why?
Because the gross value of our assets – for most, their home’s value – more than doubled between mid-1990 and 2007. It was 14 years of a power salute. This happened because we had to outdo the Joneses next door – we moved into better homes, took on more debt to do so, and gearing up was possible due to bank deregulation, lower inflation and cheaper loans. But the music stopped with the GFC and we – correctly – reversed our actions and got on top of our debts.
Prudence is back in vogue, baby. And somehow – yes it is hard to believe – it has a strong and I think lasting appeal. Home-grown is in, recycling too. Borrow, don’t buy. Measure many times and don’t even cut. Walk outside, not the gym. Renovate, don’t move.
But such a mindset has a cost. Property sales are down by a third against the past decade; generic dwelling values have fallen a bit – now they won’t keep falling forever – but they won’t also grow like they have done in the past. Nor will sales volumes.
In addition to prudence, we are buying different things. We are buying services, not goods. Maybe we already have many of the goods we really need, but when a society ages it uses more services. This is happening here and is best shown in the health sector where, new employment in this industry is up 260,000 since 2008. This is twice as many new jobs as in mining! And sadly, by way of comparison, the construction industry in Australia lost 23,000 jobs in the last three months alone.
Also, there is the digital revolution – it makes everything and everyone much more price sensitive.
So what does this mean to the property market?
Established housing – unless it has true redevelopment or good renovation potential – will record little to no real price growth for some time – i.e., a decade.
Discretionary markets and products – think Cairns or top-end holiday homes – will experience little demand. Prices could continue to slide, and being priced under replacement cost (the usual trigger for an upswing) might not trigger a positive response this time around.
New product will only sell if it appeals to the market’s needs. For renters this means convenience, and for owner-residents it’s flexibility. Spaces need to be practical yet have dual (or more) uses. Wasted space must go.
Rental return is the key investment performance indicator. Maximising the current tax advantages is second and capital growth a distant third. For a passive investor – over 90% of investment buyers – new property wins hands down. A minimum holding time is now 10 years, maybe longer.
Apart from being well-located in the urban fabric and designed for the target audience, property winners will be in areas with the best job prospects. Many of these won’t be in the capitals.
The way property is sold has changed. This is especially true for investors. Today’s property investor is essentially not actively looking to buy a property. The usual actions that accompany a property purchase – reading newspapers, searching the internet, visiting new projects and/or real estate agencies – aren’t in vogue. Hence the traditional sales methods and advertisements have limited impact on property investors. Under the current market conditions, most property investors become buyers due to independent advice and endorsement. They receive such advice often via the finance industry, and most of this advice is sourced from non-property-related enterprises. Today’s property investor is usually a professional or, increasingly, someone in the resource sector. Either way, he or she has very little time to dedicate to searching out property opportunities. Property investors, however, often seek financial or other related advice.
Many new projects will not proceed. This will more often than not be reported by the mainstream media as failure, but it truth, it just reflects our more prudent times.
“Rashness belongs to youth; prudence to old age.” Marcus Tullius Cicero
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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