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?

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A <a href=""></a>58% clearance rate was secured from the 145 offerings at the weekend’s Ray White Gold Coast auctions.
<a href="https://www.propertyobserver.com.au/residential/gold-coast-prestige-sales-marked-by-stubbies-not-champagne-as-market-struggles/2012013053168" target="_blank">Some 55% of the listings were sold</a> in early estimates. It was reportedly a record clearance rate.
The joint chief executive of Ray White Queensland Peter Camphin described the investor market interest as strong.
“There were a significant number of Victorians, for instance, who purchased,” Mr Camphin said.
“It’s clear there was a lot of interest as well as caution on price," he added.
Mr Camphin said a number of units were sold to people who hadn’t seen them.
The listings included a presumed record of 35 mortgagee offerings.
It was the Ray White Surfers Paradise group’s 19th annual event.
Michael Willems sold 21 of his 25 listings.
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jchancellor-FAypfDUnLy

Sight unseen purchases assists Ray White's weekend Gold Coast auction 58% clearance rate

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More than half of the more than 4,000 apartments in the pipeline in Brisbane’s development hotspot of Fortitude Valley, Bowen Hills and surrounding northern fringe suburbs are yet to be sold, according to the latest figures from research group Oliver Hume.
During the months of September, October and November 2011, 146 apartments were sold in this precinct, the highest volume of sales in Brisbane.
About 2.3 years of supply remaining at current sales rates.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/fortvalley.gif"><img src="/images/stories/fortvalleythumb.gif"></a>
According to Oliver Hume, the variety of stock on offer contributed to the high level of sales.
The Vecchio Property Group’s The Rivé apartments at Breakfast Creek was the most successful project for the quarter, accounting for more than a third (56) of this total.
Of the 29 projects being marketed in the northern fringes area, 14 have sold more than 50% of their available residential stock while just seven have sold 75% of their stock.
Projects spearheaded by noted property developer David Devine have performed strongly to date.
The Chelsea, a New York-style project being developed by Devine’s Metro Property Group, is 98% sold, with 191 out of the 195 apartments snapped up. The development consists of two towers of 12 levels each with one-bedroom apartments priced at $295,000.
The Hamilton Harbour project on the Brisbane River being developed by Devine Limited and Leighton Properties has sold 98% of the 257 apartments in Harbour One and 85% of the 212 apartments in Harbour Two.
One-, two- and three-bedroom apartments have been priced from $422,000 and rise to $2.25 million.
Laing O’Rourke’s $250 million McLachlan  &amp; Anne (M&amp;A) project under construction at McLachlan, Connor and Ann streets in Fortitude Valley is 72% sold, with 163 out of the of the 234 one- and two-bedroom apartments now sold.
Other apartment projects in Fortitude Valley appear less successful.
At the end of November all 131 apartments in the Alex Perry Residential 11-storey designer block were still available for purchase.
According to a spokesperson for the project, five apartments had been sold in January, and the project is “performing well”.
Another Fortitude Valley project, Belise, was unsold up until the end of November, according to research by Oliver Hume.
Construction of the 199 apartments at the St Paul’s Terrace is due to commence in the second quarter of next year.
In September last year a spokesperson for this development told Property Observer about 50 had been sold off the plan since launching in October 2010.
Photograph by Michael Zimmer
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lschlesinger-FZcF9M3vE6

More than half of Fortitude Valley's new stock yet to find buyers

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As we moved into the new year of 2012, I found myself celebrating another milestone.  Right now, the NSW planning system is undergoing the biggest change in 30 years. One of the councils we work under finally gazetted a new LEP – Local Environmental Plan.  The NSW government is changing the way that LEPs are developed and approved for our communities.  This means many councils are undergoing a change to their LEPs. 
One of the biggest challenges of a property developer is keeping up with council regulations.
If you’re thinking of renovating, extending, building new dwellings, demolishing or subdividing you will need to lodge a development application (or DA) with your local council.  But even before you are ready to put your DA together, you must have a good understanding of the council’s LEP.
Something very important you should ask your council is whether there is a draft LEP in existence. A simple search of its website should tell you what’s in the planning pipeline.
There are no general regulations that apply throughout Australia – so as a developer, you must contact your local council for specific details relating to what you want to do.  DAs allow councils to assess whether your plans are appropriate for the area based on their LEP and development control plan (DCP).
This brings me to share an interesting period we’ve had with several Hunter councils as they went through the process of introducing new LEPs.
A LEP is a legal instrument that imposes standards to control development. These plans determine the areas in which various types of development can be considered and which areas of open space and environmental sensitivity need to be protected.  These plans can have a profound and lasting impact on communities. 
A LEP generally comprises a written document and accompanying maps. LEPs apply to a particular area, generally the whole, or part of, a local government area. 
Most LEPs remain in force until they are amended or repealed by an amending LEP. The process to amend an LEP is massive.  We’ve been waiting for one council to draft and finally implement its LEP for five years!  There were many changes and each time a new edition of the draft LEP went on exhibition, we had to study it.  Finally, the LEP was gazetted. When the draft LEP is gazetted, it takes over from the current LEP as the primary environmental planning instrument. 
In the case of our Hunter council, the new LEP will provide more than 1,000 additional residential lots at eight sites across the local government area. In addition the LEP zones new employment land, which will encourage job creation in close proximity to the existing centre of town, while protecting the environmental values of the area.
The LEP also identifies planning controls for a major new town. For a developer, this is very important information. A whole new town will impact greatly on the economy and the demand and availability of housing, so you can see it’s crucial for you to know of any changes to your council’s planning process.
Importantly we’ve found that as the new LEP comes in there is a big grey area. DAs that were submitted prior to the date that the new LEP was gazetted will continue to be assessed under the old LEP and the old DCP, with due consideration of the new LEP. What the?
This may sound a bit confusing but as a developer it’s your responsibility to get a handle on the requirements of your council. I’d suggest you use a planning consultant with a strong understanding of your council’s requirements if you don’t have the time. Remember, the planning phase is just one of the many phases you’ll journey through as a developer. It’s a time-consuming pursuit but one that can bring many rewards.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

What a new local environment plan can mean for your development

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The auction clearance rate in Sydney across 2011 was 53%.
It was down from 61% in 2010 and 65% in 2009 but up 47% in 2008, according to Clinton McNabb, research analyst at Australian Property Monitors.
The clearance rate fell gradually across the year from 59% in February to a low of 49% in December.
The highest auction clearance rate was in the week ending February 12 at 63%, and the lowest week was the week ending December 10 at 47%.
There were 25,435 auction listings in 2011, down 5.4% compared with 2010.
The total value sold in 2011 was $11.26 billion, down a considerable 20% compared with 2010.
There were 12,701 properties sold at auction in 2011, some 18% fewer than the year before.
APM advised the median price for houses sold at auction was $845,000, down 2.9% year on year.
The median price for units sold at auction was $580,000, down 0.9% year on year.
Alexandria headed the suburbs with the highest auction clearance rates at 77%, followed by Ashfield 74% and Dulwich Hill.
The suburbs with the weakest auction clearance rate were Avalon 30%, Kellyville 30% and Collaroy 36%.
The inner west, inner Sydney and south west had the best-performing auction markets, while the central coast, outer-western Sydney and northern beaches were the worst performing, McNabb says.
 
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Sydney early bird vendors got the auction buyers in 2011: APM

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The clearance rate for Melbourne auctions in 2011 was 56%.
It compared with 71% in 2010, 81% in 2009 and 63% in 2008, according to the Real Estate Institute of Victoria.
The highest clearance rate in any week was 65% in the week ending March 13 and the lowest was 49% in the week ending November 20, says REIV chief executive Enzo Raimondo.
There were about 28,800 auctions throughout the year. The number exceeded the number held in both 2009 and 2008 but was fewer than 2010, when there were 32,497 residential auctions across Melbourne.
The total value of auction sales was $11.6 billion compared with $16.8 billion in 2010, $12.1 billion in 2009 and $10.2 billion in 2008.
The highest clearance rate was recorded in Wantirna South, where 82% of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.
However Richmond had the most auction activity, with 336 sales at auction and a strong clearance rate of 73%. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five busiest suburbs when ranked by numbers sold.
Four of the properties that went up for auction in Richmond in 2011 <a target="_blank" href="https://www.propertyobserver.com.au/victoria/the-block-auction-a-dose-of-reality-which-sydney-finally-loved/2011082251240">were the cottages featured on the reality TV show The Block</a>. 
 
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Richmond the busiest Melbourne auction suburb in 2011: REIV

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Regional towns linked to the mining industry are expected to again be among the top-performing property markets in Australia in 2012, according to hotspotting.com.au director Terry Ryder.
Ryder has picked five mining towns (Port Hedland, Newcastle, Bowen, Whyalla and Darwin) among the best prospects for 2012 even though he warned investors to avoid mining towns in general on a list of No-Go Zones he compiled in August last year.
The 2011 no-go list included the mining towns of Kalgoorlie and Mount Isa.
“Mining towns have great allure for property investors because they often provide high rental returns and rapid capital growth,” Ryder <a target="_blank" href="https://www.propertyobserver.com.au/queensland/mining-towns-not-rivers-of-gold-terry-ryder/2011081051115">said at the time.</a>
“But mining towns are among the most perilous locations for investors. They sit at the extreme far end of the risk spectrum. Mining towns have volatile markets that depend on buoyancy in the resources sector,” he said in August 2011.
“Often the prices and rents in mining towns are sustainable only while a resources boom lasts.”
This time around he again warns that despite the “often spellbinding” appeal of resources boom-related towns for property investors, “there are risks to be heeded – most notably in locations that are dependent solely on the fortunes of a single project”.
In his current list Ryder also warns that the increasing trend of FIFO (fly-in, fly-out) workers poses growing potential risks for those investing in real estate in mining towns.
Despite this, he says the performance and future prospects of property investment in mining towns cannot be ignored.
Ryder has highlighted <a href="https://www.propertyobserver.com.au/hotspots/hotspot-newcastle-tipped-for-strong-growh/2011062950648" target="_blank">Newcastle, heart of the NSW coal-mining industry</a>, as Australia’s “most under-rated market” and Port Hedland in the <a href="https://www.propertyobserver.com.au/residential/pilbara-mining-rents-the-seven-most-expensive-wa-boom-towns/2011113052624" target="_blank">iron-ore rich Pilbara region</a> of northern Western Australia as Australia’s “most remarkable property market” in the January 2012 edition of The Ryder Report.
“While it has a lingering image of smoke stacks and hard times, in reality Newcastle is a prosperous city with a pumping economy and a great lifestyle, which presents as a viable affordable alternative to Sydney. Most Newcastle suburbs recorded price growth in 2011 and some delivered double-digit growth,” Ryder says.
The <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> director describes Port Hedland as having “the most extraordinary property market, with house prices rising an average 22% per year for the past 10 years and the median price now $1.04 million”.
“Just when you think they can’t go any higher, they do. The median price rose 11% in 2011. Despite these ridiculously high prices, you can still get 10% yields because typical rents are above $1,800 per week. There is no other market like this in Australia,” he says.
In Queensland, Ryder names <a href="https://www.propertyobserver.com.au/queensland/gladstone-queensland-s-top-performer-reiq/2011082451272" target="_blank">perennial hotspot favourite Gladstone</a> – location of some of Australia’s biggest long-term resource projects, including a $41 billion coal mining project scheduled to run from 2011 to 2020 – as the star performer of 2011 and Bowen, 1,100 kilometres north of Brisbane, as the state’s rising star of 2012 because of its “important role in the Queensland coal industry”.
“[Bowen’s] prospects were enhanced late in 2011 when the state government announced a super-sizing of Abbot Point. With six new coal terminals to be built, it will be one of the biggest export facilities in the world,” Ryder says.
In NSW, the <a href="https://www.propertyobserver.com.au/residential/mining-boom-drives-up-nsw-hunter-valley-rents/2011113052623" target="_blank">mining-rich Hunter Valley</a> is Ryder’s pick as the state’s top performer of 2011 while he believes Whyalla in South Australia will be the state’s star performer in 2012, labelling it the “Gladstone of South Australia”.
“It’s the largest regional centre in the state, it’s affordable and it will play a key role in the $30 billion expansion of Olympic Dam. A new export port is being planned there, as well as a $1 billion rare earths processing plant,” he says.
Both Ryder’s top picks in the Northern Territory have mining links, with the small regional town of Tennant Creek chosen because of its “cattle properties, tourist attractions and mining sites”. He also nominates the capital Darwin as the best territory prospect for 2012 on the back of the $30 billion Inpex onshore gas project almost certain to proceed after gaining both territory and federal approval. Ryder also says the decision to station 2,500 US military personnel in Darwin will boost market confidence. 
Regional towns not tied to the resources boom and suburban markets also make the January list including the unfashionable outer western Sydney suburb of Blacktown (his top NSW pick for 2012).
“Blacktown will continue its steady emergence as an underrated star of the Sydney market. First-home buyers are starting to return in numbers to the Blacktown LGA, which includes Seven Hills and Quakers Hill. It is also a population growth leader, has good transport links and is close to major jobs nodes,” says Ryder.
He also picks the Melbourne suburb of Melton as the rising star of the Victorian market of 2012, with the regional town of Ballarat the state’s star performer of 2011.
“A strong regional centre within commuting distance of Melbourne, Ballarat had a strong year while much of Melbourne was struggling. A number of Ballarat suburbs recorded double-digit growth in median house prices. The city’s prospects are set to get stronger, with the Regional Rail Link, multiple wind farms and a new cancer centre coming up,” he says.
He describes Melton as the most affordable region of the city housing market with good transport connections to central Melbourne and which will be boosted by urban renewal developments.
The southern Perth region of Murdoch is picked as the star performer of 2012 due to being a “cluster of middle-priced suburbs around a major university-hospital precinct”, site for the $2 billion Fiona Stanley Hospital currently under construction as well as the recently released eight-hectare mixed-use “Murdoch Mix” precinct which will include 220,000 square metres of commercial offices, allied health services, retail, residential and short-stay accommodation planned until 2031.
The full list is:
 
QUEENSLAND:
Star performer of 2011 – Gladstone
Rising star in 2012 – Bowen
 
NEW SOUTH WALES:
Star performer of 2011- The Hunter Valley
Rising star in 2012 – Blacktown
 
VICTORIA:
Star performer of 2011 – Ballarat
Rising star in 2012 – Melton
 
WESTERN AUSTRALIA
Star performer of 2011 – Port Hedland
Rising star in 2012 – Murdoch precinct
 
SOUTH AUSTRALIA:
Star performer of 2011 – Ceduna
Rising star in 2012 – Whyalla
 
NORTHERN TERRITORY:
Star performer of 2011 – Tennant Creek
Rising star in 2012 – Darwin
 
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Mining towns could be 2012 property hotspots: Terry Ryder

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In spite of the battering that the residential market has taken of late, many Australians still aspire to own investment property. 
When considering whether to buy new versus older property, price is only ever part of the equation. 
And buying a new dwelling has numerous benefits over buying a second-hand property. 
One important benefit that new homes offer investors is great capital depreciation, with up to 60% of the built cost being tax-deductible over time. 
When considering a brand-new investment property, and in particular, when deciding to build or purchase off the plan, it is wise to obtain advice from a depreciation specialist as early in the planning stages as possible. 
That way, an investor will be aware of the best choices to make in order to maximise depreciation benefits. 
For example, when a property is being built, the selection of fittings and fixtures will determine their dollar value in terms of depreciation deductions. 
And this, in turn, will make a difference to the cash flow potential of a new investment property. 
Let’s look at floor coverings by way of an example – carpet versus timber floorboards versus tiles.   For depreciation purposes, each of these is deemed to have an effective life.  Carpet – 10 years; timber floorboards – 15 years; and tiles – 40 years. 
A $2,000 outlay on floor coverings, for example, would result in the following depreciation benefits in the first year:  Carpet – $400; timber floorboards – $267; and tiles – $50. 
Similarly, for a $2,000 expenditure on lighting, ornamental lights with a five-year effective life would incur an $800 depreciation benefit in the first year, versus down lights with a 40-year effective life and a $50 depreciation benefit in the first year. 
And naturally, depreciation benefits continue in subsequent years until all amounts are exhausted. 
Armed with this sort of knowledge, an investor might find it financially viable to upgrade a level of finish from, say, low to medium or medium to high. 
But it takes an expert in the field to keep up with the machinations and new methodologies of the ATO, and to structure depreciation schedules that will maximise benefits for owners. 
These days, for example, renovating is on the rise.  And what some new or would-be investors may not know is that they can claim deductions for an old property that is scrapped. 
When building a new investment property and tearing down an old home, items that are scrapped or removed, such as carpet, air-conditioning units, stoves, etc, may have left over value that can be claimed as a tax deduction in the year of removal. 
The same applies to the qualifying structural element of the property.  But the important thing is to obtain a tax depreciation report pre-demolition, in order to be eligible for any savings at tax time. 
Depreciation is basically a numbers game, but with a twist.  Broadly speaking, most of a building is claimed at 2.5% per year for 40 years, however, up to 25% of the total construction cost can be written off more quickly. 
Good luck with that investment.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
For more advice on investing off the plan, <a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan" target="_blank">download our free eBook.</a>
 
 
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michaelmatusik-49YzLvdmNv

New property has significant advantages for investors

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When the Reserve Bank of Australia lowered the official cash rate by 25 basis points on December 6 it was very interesting to watch how the major banks tried to handle the RBA’s decision on Twitter – which I believe was poorly handled. Here are their tweets.
December 6
@ANZ _AU: “Hi there, our rates are under review – we will keep you posted. Thanks ^LG.” This was posted a further seven times.
@nab: “rates are under review.” This was posted a further eight times.
@CommBank: “Our rates are under review and we’re carefully considering the impact of the RBA’s announcement on all our products.” This was posted a further 11 times.
@Westpac: No tweets
December 7
@ANZ –AU: “Hi there, rates are still being reviewed. We’ll let you know once a decision has been made.” This was posted a further seven times.
@nab: one update
@CommBank: 18 more updates
@Westpac: “Our rates remain under review, we know this has big implications for your home loan &amp; savings, we’ll let you know as soon as we do.” One update
December 8
seven more updates then @anz_media: “ANZ cuts rates for mortgages and small business lending by 0.25%”
@nab: seven more updates then “We’ve just confirmed a 0.25% cut to the variable mortgage rate and business loan rates.
@CommBank: two more updates then “We are lowering our Standard Variable Home Interest Rates by 0.25% to 7.31% effective for new and existing customers from 19 Dec 2011.
@Westpac: “We’re happy to pass on the full RBA interest rate cut for home and business lending by 0.25%
The Treasurer Wayne Swan @SwannyDPM was busy tweeting to his followers.
“A great early Christmas present for ANZ customers today. Heat is now really on NAB, Westpac &amp; CBA to do the right thing by their customers.” Then “NAB also doing the right thing by their customers with full 25 point rate cut. Heat just gone up another notch on Westpac and CBA.” Followed by “Good news for CBA home loan customers this evening too. Westpac customers deserve their bank to do the right thing as well.” Finally, “CBA has done the right thing for its home loan customers, that just leaves Westpac out there facing a massive backlash from its customers. “
ANZ then announced that it will now review its rates on the second Friday of every month, which prompted me to write on my final blog for 2012. “ANZ shifts to monthly rates review where it is now set to sever the long-standing link between official interest rates set by the RBA and the rates customers pay on their mortgages. This decision questions the relevance of the RBA, if banks are to decide independently, what their cash rate will be. This has the potential to become ugly, and I see ‘bank bashing’ alive and well in 2012. On the one hand we will have bank advertising campaigns of those warm and fuzzy happy family moments and on the other, journalists and social media beating the living daylights out of their reputations. The latter will win hands down.”
<a target="_blank" href="https://www.propertyobserver.com.au/trends/real-estate-businesses-must-make-the-most-of-the-web-or-be-left-behind/2011102352031">Social media is now a huge voice</a> where one only has to look at the #VileKyle trending on Twitter last month where over 30,000 signed an online petition demanding he be dumped following his ugly spray at a journalist. Online polls went into meltdown. The result? Mazda, Telstra, Harvey Norman, Fantastic Furniture, Blackmores, Crazy John’s, Vodafone and Good Guys withdrew their sponsorship.
This was the very first social media online protest march Australia has ever seen before where it worked wonders and yes – I did sign the petition, too. Absolutely no doubt the major banks took notice too.
Twitter Statistics 2011 reveal 1 billion tweets posted per week, three years, two months and one day the time in between the first tweet and the billionth tweet, 177 million tweets sent on March 11, 2011, 456 tweets per second (TPS) when Michael Jackson died on June 25, 2009 (a record at the time) and 6,939 current TPS record, set four seconds after midnight in Japan on New Year’s Day.
Our big four banks are not performing well on Twitter – @CBA has 2,284 followers with 234 tweets, @Westpac 8,658 followers with 2,944 tweets, @ANZ 1,746 followers with 1,000 tweets and @nab 8,279 followers with 4,444 tweets.
So I was interested to see this week when I received a direct message from ANZ_AU – “Hi, this is automated but we’re here to help 9 – 5.30 pm Mon – Fri (AEST) in accordance with our Twitter service terms.”
Now that is a first so watch the other three follow suit as they battle to attract followers given their ability to attract followers thus far can only be described as very ordinary.
In Twitter speak they may well be trending to be different – time and tweets will tell. Once upon a time we heard “the dogs are barking” today, it’s the customers are tweeting and reputations are on the line – just ask Kyle Sandilands.
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">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 href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">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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robertsimeon-hRNTwJyXkQ

Banks will have to hone their social skills in 2012

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Just in time for Christmas we’ve received the results of the National Housing Supply Council’s State of Supply Report 2011. 
The <a target="_blank" href="https://www.nhsc.org.au/supply">council’s report</a> provides independent and consistent data on housing supply, underlying demand and the supply-demand gap, as well as affordability. The report has become a trusted resource for both government and industry. 
With <a target="_blank" href="https://www.propertyobserver.com.au/residential/michael-matusik-dismisses-housing-undersupply-findings-as-spin/2011122152932">so much debate going on with whether there actually is an undersupply of housing</a> or not, this report gives some real weight to the argument. In fact, it’s pretty clear. 
The council projects that there will be a shortfall of more than 600,000 dwellings nationally in the next 20 years. 
Wow. That’s a lot of housing that will be required despite “weaker market conditions” that are being touted right now.  But I’m not really seeing “weaker” conditions. In the areas Property Bloom develops things have started to move.
Just this week we found a fabulous development site.  It is a solid three-bedroom house on 1,012 square metres with two street frontages (there’s the twist).  This potential development site had plenty of interest, so much so that we had to race to exchange in order to secure it and take it off the market before Christmas.  The agent received more than 30 enquiries in under a week.  On this site we’ll build a three-bedroom duplex – two attached three-bedroom villas – for our clients.  So we’ll create three properties from one. 
This is where I make the familiar reference to the two-speed economy.  You will find that in any large region where there is lots of employment opportunities – as we see in the Hunter region of NSW – there will be strong demand for housing. 
But it’s not just any housing that’s required. We need to tailor to the needs of the community.  The State of Supply Report uncovers that the numbers of households comprising couples without children and lone-person households are projected to grow much more rapidly in all regions than are the number of households that are families with children.  With an aging population this all points to a need for smaller dwellings. The projections suggest that most regions can expect a greater relative increase in demand for flats than for separate houses. 
Here’s an important point:  “Demand for private rental dwellings may well increase more sharply than is projected, due to social housing stock not increasing in proportion to increased underlying demand.”  What is that telling you, investors?  Rents will continue to increase, combine this with interest rates dropping, buy in the right area and you should end up with a very strong yield. 
With affordable housing in great demand, Property Bloom addresses this by developing properties, renovating houses and then building a granny flat. This strategy can be turned over very quickly and we basically double the housing capacity for that property and create a 9% gross yield for our clients.
By building villa developments in large regional towns like Muswellbrook, Cessnock and Maitland we are also providing good-quality, affordable dwellings. These are quickly snapped up in the rental market.
So if you are looking for to give yourself a Christmas present, consider developing property, or at least purchasing one, in areas where there is an under supply and strong demand. You’ll not only be doing yourself a favour, but also the communities you are investing in and assisting with the shortfall of housing.  Merry Christmas!
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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All I want for Christmas is some new housing

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Singapore-based developer Frasers’ enormous Central Park residential development on Sydney’s Broadway has helped drive the number of apartment projects being built by offshore developers in Australia to a 20-year high, according to research by CBRE.
Dominated by Asian firms, offshore developers now have almost a third of the new apartment market, with more than 13,000 apartments either planned or in the marketing/construction phase in 37 separate projects across the country.
Based on average apartment completions in Australia in 2011 this represents a market share as high as 32%.
According to CBRE, developers from Singapore are proposing or building more apartments in Australia than developers from any other foreign country at present, and by a big margin.
<img src="/images/stories/offshoreinvest.gif">
Singaporean developers are responsible for almost 5,000 apartments presently planned or underway, with 58% by Frasers Property, and 65% of these in the Central Park project in Sydney.
To date, more than 500 apartments have been sold off-the-plan for the first residential stage, One Central Park, which is due for completion by mid-2013 with prices ranging from $460,000 to $1.25 million.
In October, Frasers and Japanese joint venture partner Sekisui House secured $550 million in funding for the 5.8-hectare mixed-use Central Park development.
The next most significant source of development capital is Hong Kong, with a single developer (Far East Consortium) behind 2,700 apartments in two Melbourne projects.
Malaysia (12%), China (9%), Korea (9%) and India (6%) make up the balance of what is a broad spread of Asian sources presently facilitating apartment projects in Australia.
According to CBRE executive director of global research and consulting Kevin Stanley,  foreign developers had not been this active in Australia since the building boom of the late 1980s/early 1990s, when mostly Japanese companies were active in developing offices, shopping centres and hotels.
The level of offshore investment in residential apartments mirrors the dramatic increase in the participation of <a target="_blank" href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916">overseas investors in Australian commercial property</a>, which has also reached a two-decade high.
Like commercial property, overseas developers view Australia as a safe and steady market to diversify their activities and grow their businesses and one where there is steady occupier and investor demand for apartments.
Sydney and Melbourne account for four out of five apartments projects (79%) with the Gold Coast (10% of total), Brisbane (6%), Perth (3%) and Adelaide (2%) also popular destinations for offshore developers.
<img src="/images/stories/offshoreinvest2.gif">
“In a surprising result, Melbourne has a greater number of apartments proposed by foreign developers than Sydney, despite being a city with 450,000 fewer people,” says Stanley.
Earlier this week, <a href="https://www.propertyobserver.com.au/developments/chinese-developer-snaps-up-south-yarra-site-for-%2418-million/2011122052909">Chinese developer acquired a South Yarra residential development site for $18 million.</a>
Stanley says reasons for Melbourne’s appeal include its long-term connection to Asian countries through education and tourism; the greater availability and lower relative price of sites; and the city’s national reputation for the ease of conducting property business.
Melbourne is experiencing the highest concentration of CBD projects of any of the major cities while Sydney has a much more balanced distribution of apartments between the CBD, city fringe and suburban submarkets.
“This is a function of the tightness of site availability and the expense of land in the CBD, along with a growing acceptance of high-density living in suburban nodes, especially near railway stations,” says Stanley.
“In Brisbane, the city fringe has been much more popular with foreign apartment developers than the CBD, although there is a much smaller relative penetration by foreign developers generally into the Brisbane market to date, with a greater focus on nearby Gold Coast instead.”
Stanley says the impacts of foreign involvement in the apartment market were many and were mostly positive.
“Critically, it’s providing a stimulus to the construction sector at a time when development activity is generally at a low level,” Stanley says.
“Second, it’s providing new ideas, standards and designs to broaden the product range in Australia and introduce fresh competition in these areas. Coupled with development by local companies, it’s also leading to the urban renewal of precincts of Australian cities that have previously been underdeveloped and activating these areas with a new range of quality facilities, often in a mixed-use environment. The northern fringe of the Melbourne CBD and the southern area of the Sydney CBD stand out in this regard.”
 
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