Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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?

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

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With this week’s RBA interest rate cut, I found myself pondering on the impact this may have on the “property clock”. 
We’ve all heard the old saying that “property runs in seven-year cycles”.   While I agree property does run in cycles, the fact is we can’t make a generalisation for the entire property market and cycles vary in length. There is not one property cycle, but many. We need to study the areas we are interested to invest in to get an understanding of its individual property clock. In addition to micro events that will affect a cycle  like the opening of a new supermarket in the area for instance (the effect is an increase in jobs and people wanting to live there), there are also macro events that impact on the cycle.  An obvious example is the impact that the GFC had on property cycles. 
Part of my research process is to track specific postcodes in the areas we develop in closely. I collect the quarterly median price growth data and put it into a graph. I like to see a visual of what’s been happening.  So looking back on one of my graphs, I can see a distinct peak in growth that started in 2002 and continued through 2003.  Since then, we’ve seen this area’s median price plateau, and then small incremental growth spikes occurred, until a larger one in 2009 as a result of the government’s first-home owners grant, which enticed more sales. From 2009 until now, there has been some decent growth. In the past 12 months to August this postcode grew by 8.92% and right now the first-home buyers are back in the market encouraged by the RBA’s rate cut. This rate cut is physiologically representative of far more than the 0.25% cut we received.  We’d been told for a year or more to expect more rate increases. This had everyone sitting on their hands, and even saving while they watched and waited. Now the RBA goes the other way and a big sigh of relief blew over the country. 
If we now take a look at the Property Clock below, and I relate it to this particular postcode in the Hunter region, then I can guess that we’ll see some substantial growth in the median price soon.
<img src="/images/stories/jochiversnov3.gif"> 
Why?  Well this suburb (keep reading and I’ll reveal its name) has a very strong rental market so yields are increasing and there is an undersupply of rental properties. I’m expecting to see more investors coming into this market once they realise the strong returns.  You see the median price is just $238,000 and the median rent is $280 per week.  But Property Bloom completed projects in this suburb rent for $380 per week. 
I believe the Lower Hunter Region is around the 7.30 stage of the clock.  There is not a shortage of stock yet but the very good properties are selling quickly.  And there is certainly a new dwelling stock deficiency here. 
A Property Bloom development will typically takes 12 to 18 months to complete, and during this time demand is likely to strengthen and rents to continue increasing (due to limited rental stock).  And if we do see more rate cuts, then I believe we will move to 9 o’clock very quickly. So it is a great time to be developing and adding value to property. If you time it right, you can create some good equity then ride a wave of capital growth. 
Add to the mix the government’s NSW home builder bonus scheme, which waives stamp duty on off-the-plan purchases of new homes up to the value of $600,000 and on land up to the value of $400,000.  <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/nbb/">This bonus</a> is due to stop July 2012, so do not waste time if you want to take advantage of this bonus.
Savvy investors are always one step ahead of the general market. You can make an educated call on when you enter the market by studying the property clock – so are you savvy or mainstream?  By the way, the suburb I’ve been talking about is Cessnock.
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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Learn where your region sits on the property clock before you begin your development

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Developer Mirvac has sold more than three-quarters of the apartments in its latest Docklands residential tower, Yarra Point.
As of September 30, 2011, Mirvac had sold 77% of the apartments in the $200 million, 31-level tower off the plan, with a combined value of $140.1 million.
In its quarterly report, Mirvac said its new release projects are “at the right price points in the right locations”, with 54% of its 2012 financial year lot sales secured by settlements and exchanges. 
In total Mirvac secured 395 lot settlements over the three-month period and says it is on track to achieve 1,800 lot settlements for the 2012 financial year.
The Yarra Point sales figures show residential investors have not been discouraged by a spate of media reports criticising the Docklands development for its lack of community feel, with one describing the precinct as a “purpose-built suburb hugger-mugger with tower blocks and affluence, but lacking heart and soul”.
Yarra Point is located in Yarra’s Edge, the section of Docklands south of the Yarra River, being exclusively developed by Mirvac. 
The $2 billion, 14.5-hectare master-planned site is home to six completed apartment towers comprising more than 750 apartments and 39 river precinct homes. 
Yarra’s Point will feature 201 one-, two- and three-bedroom apartments with prices starting from about $500,000. Construction has commenced, with settlement due to occur in 2013. 
Mirvac has previously sold out all five of the already completed towers as well as its top-end river precinct homes.
It has also received 8,000 registrations of interest ahead of release of its Harold Park project in Glebe in Sydney’s inner west, a master-planned community, which will comprise up to 1,250 new homes on the site of historic Sydney race track.
Mirvac acquired the 10.5-hectare site from the NSW Harness Racing Club last December, with the first phase of 296 apartments and strata-titled terraces set to be launched for sale off the plan this month.
For advice on buying off the plan, download our free e-book.
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Docklands development Yarra Point three-quarters sold as Mirvac says the price is right 

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As developers it’s our duty to play our part in Victoria’s economic rebuilding, and restoring affordability for home owners is the first step in this process.
The affordability equation will now be further assisted by the RBA dropping interest rates by 0.25%. The average household will save just under $50 a month on a $300,000 mortgage.
Melbourne’s recent property price correction of roughly 5% to 10% helps restore affordability, coupled with yesterday’s interest rate drop, which  is equivalent to about a 4% drop in monthly mortgage repayments.
It’s now the responsibility of Melbourne’s developers to maintain this affordability and use the rate drop to further improve economic confidence and restore a healthy demand for housing, rather than use it as a chance to push prices up once again.
We’ve seen from experience that once new land allotments reach that $200,000 price bracket, it breaks through the barrier of what the average consumer deems affordable.
Rory Costelloe is executive director of <a target="_blank" href="https://www.villawoodproperties.com/">Villawood Properties</a>, a Melbourne-based developer that controls a land-bank of over 16,000 allotments across the eastern seaboard of Australia.
 
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Developers must pass on rate cut to home buyers

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NSW Treasurer Mike Baird will consider the Sydney Business Chamber proposal that City of Sydney rates fund the necessary light rail and the ferry services for the Barangaroo development.
Lord Mayor Clover Moore says she yet to consulted about the plan, which she suggests would put other planned city improvements in jeopardy.
Sydney Business Chamber executive Patricia Forsythe suggests that procuring council rates through a special act of Parliament could fund <a href="https://www.propertyobserver.com.au/news/barangaroo-must-proceed-even-with-wynward-woes-lord-rogers/2011070750739" target="_blank">public transport to the site.</a>
Public transport is traditionally funded by state, not local government, so Moore has suggested without those rates, the council’s capacity to offer some $180 million to fund its preferred transport initiatives would be called into question.
“Our promise to the government of $180 million for transport and light rail in the CBD included rates forecast right across central Sydney,” Moore says.
Sydney Business Chamber executive Patricia Forsythe says getting transport right for Barangaroo is “the next big challenge”.
She told SMH reporter Josephine Tovey that in an era where credit was tight, where funds becoming available for infrastructure are not as freely given as they were in years past, it is necessary to find  a solution ensuring that transport remains a number one priority.
Construction has recently started on the Barangaroo project, which has been estimated to net $7 million plus annually for the council in rates on completion.
Earlier this year the Barangaroo project's lead architect, Lord Richard Rogers, affirmed the project ought to proceed despite any public transport deficit surrounding the project.
“You have to go ahead, even without it, as otherwise the precinct will be even less sustainable,” Rogers said in an interview proceeding the release of the NSW Auditor-General's report that suggests an extra 13,000 commuters a day would pass through Wynyard station to get to work at Barangaroo within a decade.
The Auditor-General's report highlighted the transport challenge of delivering 22,700 people to Barangaroo, with the former government lacking any specific transportation initiatives.
“It was a pity they [the Labor government] haven’t done more and I hope [the Coalition government] go ahead now, especially with the light rail,” Rogers says.
He says all he could assume was if the density were increased “then ideally a visionary government will put the public transport”.
“It will all help – using the harbour more would be wonderful. I don’t understand why it’s used so little,” he said.
Rogers describes the renewal of the 22-hectare stretch of concrete and East Darling Harbour wharves as ''turning Sydney's back door into another front door''.
Rogers says: “You have to fill in the holes.
"This is a classic hole... It's a big piece of concrete on the potentially most beautiful promontory.
"I sense the new NSW government is very pro strengthening the city," Rogers says.
A report by The Australian in June indicated the new NSW Treasurer, Mike Baird, who has an investment banking background, was one senior figure in the new government who was an unashamed proponent of Barangaroo as a financial services hub for the Sydney CBD.
"Done well and incorporating community concerns, this is our chance to have the Canary Wharf of the Asia-Pacific," Baird suggests.
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Sydney Council baulks at funding Barangaroo transport links

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The Sydney residential auction market held firm at 54% during its busiest weekend auction since autumn.
There were 600 properties for auction, 200 more than the previous weekend and 2011’s third-highest total.
Of the 442 reported auctions, some 280 found new owners.
Melbourne’s clearance rate was 53% of the 362 auction results reported to the Real Estate Institute of Victoria. The outcome of another 70 scheduled sales was still unknown.
Due to the spring racing carnival distraction, the Melbourne stock level was down by half from last weekend's ''Super Saturday'', when 53% of properties sold.
The dearest sale in Melbourne was a four-bedroom timber cottage on a 460-square-metre Chatsworth Road, Prahran block, which fetched $3,137,500.
Melbourne’s $128 million weekend tally was divided between $97 million of houses at a $659,000 median price and $31 million in units at a $458,500 median.
Dr Andrew Wilson from Australian Property Monitors suggests the Sydney results are a sign of market resilience.
Although the previous weekend’s adjusted clearance rate was 53.8%, having initially been put at 56.3% on the Saturday night tally.
Some $226 million of Sydney property sold under the weekend auction hammer at an $807,000 average. The median price for houses was $862,000, and for units it was $600,000.
Continuing his strong month of sales, the most expensive property sold at auction was a four-bedroom house at Saratoga that fetched $3.5 million through Stuart Gan at PRDnationwide Ettalong.
Buyer activity in the southeast Queensland auction market rebounded, according to Jason Andrew Auctioneers.
The number of buyers registering at auction more than doubled and the number of registered buyers making a bid remained above the year-to-date average.
However the overall clearance rate rose only marginally to 38%, Andrew adds.
“The spike in buyer registrations was an encouraging sign, but that the activity was by and large limited to properties with clearly motivated vendors.
“At one auction of a deceased estate, we recorded a crowd of 40 people with five registered bidders.
“The property sold under the hammer, just above the vendor’s adjusted reserve.
“There are an increased number of buyers who are ready and willing to act, but unwilling to pay a premium.
“This remains a market where serious vendors who want to secure a sale must take note of current market value and adjust their price expectations accordingly,” Andrew suggests.
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Sydney auction clearance rates seemingly holds steady on 600-strong Super Saturday

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There are about 600 Sydney houses and apartments listed for auction this weekend. And the following weekend too.
But those volumes are down by about 8% on last year, according to Australian Property Monitors head of research Yvonne Chan.
There is one fewer auction than initially tallied however, as the Channel 7 Morning Show co-host Larry Emdur and his wife, Sylvie, have withdrawn their redundant Dover Heights residence from Saturday auction.
It remains listed for sale through private treaty negotiations.
Its listing followed their<a target="_blank" href="https://www.propertyobserver.com.au/residential/larry-edmur-says-good-morning-to-breathtaking-cliff-top-property/2011090251402"> recent $6.8 million upgrading to a nearby mansion with dramatic oceanfront cliff-top views</a> over the Pacific Ocean. The Emdurs have owned at Dover Heights since 1994, when they spent $770,000.
They then rebuilt what its McGrath listing agent Bethwyn Richards describes as a contemporary house remaining true to its classic P and O-style heritage. It is set on 417 square metres, whereas the Emdurs’ new home is on 1,062 square metres of cliff-top land.
Based on their nearby purchase price, it had been estimated more than $5 million could be reasonably expected.
But the residence they've just bought was bought from the Moss family who had paid $7.1 million in February 2007, showing the market’s weakness.
Melbourne’s auction tally is lower than last weekend due to the distraction of the Melbourne Cup racing carnival.
This weekend the Real Estate Institute of Victoria has 445 auctions. The same weekend last year had 410 auctions and in 2009 there were 338 auctions.
The number of auctions will increase again with 600 expected next weekend and 850 the weekend after, according to Real Estate Institute of Victoria chief executive Enzo Raimondo.
Melbourne’s year to date clearance rate is now 57% from 22,940 auctions. At this stage last year the clearance rate was 74% from 25,380 auctions and in 2009 there has been 16,555 auctions with an 81% clearance rate.
Last weekend there were 823 auctions with a revised clearance rate of 53% in Melbourne.</body></html>

Larry Emdur withdraws redundant Dover Heights holding from weekend auction

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The total number of active Melbourne apartment projects has fallen below 300 for the second successive quarter in September, a decline of just over 4% from the previous quarter, according to research by Oliver Hume.
The number of active projects is the lowest since the June quarter 2010.
If fully developed – and the majority are expected to be – the 284 projects will deliver about 41,400 apartments over the coming years, compared with about 293 projects and 33,450 apartments in the corresponding quarter 12 months ago.
Oliver Hume defines a “project” as those that are pre-selling off the plan, under construction or completed with available stock
Of the 41,400 apartments, just under 23,000 are in buildings already under construction or completed, with about 12,600 apartments released over the last year.
Five municipalities contain 60% of all metropolitan Melbourne apartment projects. The most active apartment market is still the City of Melbourne with 17,400 apartments, followed by Stonnington and Yarra. Boroondara and Port Phillip round out the top five.
<img src="/images/stories/melbapartments.gif">
The research reveals that developers are building bigger apartment complexes, with the average number of apartments per project now at 157, up 10% from 143 in the previous quarter and from 123 in the corresponding quarter 2010.
The median entry price for one- and two-bedroom apartments is $369,000 and $520,000 respectively, with the price differential between the one- and the two-bedroom units $151,000, up from about $115,000 when records commenced in 2008.
Since 2008, the entry-level price of a one-bedroom apartment in metropolitan Melbourne has risen at an average rate of 3.3% a year, from $335,000 to $369,000.
The entry-level price of a two-bedroom apartment has risen by 5% a year, from $450,000 to $520,000.
Despite the quarterly drop in apartment projects Melbourne remains the “Manhattan” of Australian cities, with the Victorian capital accounting for a record 44% of all Australian multi-unit approvals in 2010-11.
In 2010-11, multi-unit approvals fell just short of 23,800, according to Metropolitan Melbourne According to an apartment market report compiled by Oliver Hume this was almost a third more than the 16,400 approvals granted last year and three times the 6,600 approved in 2005-06.
The rise in apartment approvals in Melbourne is even more noteworthy when set against declining national multi-unit activity, which dropped 11% in the June 2011 quarter compared with the March quarter of 2011 and is now 5% lower than a year ago.
For advice on buying off the plan download our free e-book.
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Melbourne apartment offerings contract from 2010 exuberance

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2/14 Hewlett Street, Granville, NSW, 2142
<img src="/images/stories/hewlett.jpg"> 
This two-bedroom apartment in the Sydney suburb of Granville includes a car space and is tenanted at $340 per week. The lease is currently expired but the tenant is keen to stay on, and a relatively high yield could make the property attractive to an investor. <a target="_blank" href="https://www.runproperty.com.au/buying">Run Property</a> agent Rebecca Hall is marketing the property with price hopes of $285,000 plus. If it sells for $285,000 that would secure an investor a gross rental yield of 6.2%, about the same as the gross indicative rental yield for Granville apartments of 6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council rates are approximately $224 per quarter, Sydney Water rates are approximately $157 per quarter, and strata levies are approximately $479 per quarter. <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 $9,000. The property is close to schools, shops and the train station. It was passed in on a vendor's bid of $280,000 at auction on October 29 and is in negotiations. 
For more information about yields and prices in Granville, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For more investment prospects going to auction this weekend, see pages 2 and 3.
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402/2 Jones Bay Road, Pyrmont, NSW, 2009
<img src="/images/stories/jonesbay.jpg"> 
This one-bedroom apartment with Harbour Bridge views is tenanted at $500 per week and includes a car space. <a target="_blank" href="https://www.khoandlee.com.au/properties/505522/details">Kho and Lee Property Group</a> agent Sami Yildiz is marketing the unit with price hopes in the "early $500s", about $510,000 or $520,000 plus. If it sells for $510,000 that would equate to a gross rental yield of 5.1%, about the same as the indicative gross rental yield for Pyrmont apartments of 5%. 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 $13,000 and over five years to be $40,000. The building includes a gym and a swimming pool, and it is within walking distance of Darling Harbour. The unit was withdrawn from auction shortly before it was due to go under the hammer on October 29 and is in negotiations. 
For more information about prices and yields in Pyrmont, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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5 Oakton Close, Wheelers Hill, VIC, 3152
<img src="/images/stories/oaktonclose.jpg">
In a cul-de-sac, this two-bedroom, two-bathroom property is tenanted at $380 per week until the end of the year. <a href="https://mcdonaldre.co/details/?pid=503104" target="_blank">McDonald Real Estate</a> agent Brian Grace is marketing the property with price hopes of $585,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 3.5%, about the same as the indicative gross rental yield for Wheelers Hill houses of 3.2%, 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 $5,000 and over five years to be $12,000. The property is within easy walking distance of Wheelers Hill Secondary Collegeand is close to Brandon Park and Waverley Gardens shopping centres. The property was passed in on a vendor's bid of $565,000 at auction on October 29. It had an earlier bid of $540,000 and had a reserve of $585,000. The property remains for sale.
For more about prices and yields in Wheelers Hill, see the <a href="/news">RP Data suburb page</a>.
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Weekend yield watch: Yields of up to 6.2% in Granville as none of Form Guide properties sell

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So you’ve just received your development application and construction certificate consent and it’s almost time to start building.  Just how long will the construction phase of your development take? Or more importantly, the question is how long before you start making a return on your investment?  I guess this is like asking, how long’s a piece of string?  Because the answer will depend on many factors:
-   The number of dwellings you are building – single house or multi-unit development?
-   The type of construction process: slab and brick, timber floor and walls, partially prefabricated materials, etc.
-   The size and degree of difficulty of the structures
-   The weather: how many rainy days will delay progress?
-   Material and contractor availability
-   The builder’s ability to manage his contractors – his relationship with his trades and communication skills
-   The knowledge and experience of those managing the project
-   Any issues that may arise during the development process i.e. hitting rock when excavating
Generally speaking, the build phases on Property Bloom projects range from a dual occupancy being completed within four months to a four-villa project being completed in six months.  Our granny flat developments are only two months from receipt of approval to completion of building works.
Now you have an idea on how to estimate your build time, is there a way you can save on holding costs too?  The answer is yes and it’s all about analysing your building drawdown schedule.  A simple revision to a builder’s drawdown schedule can end up saving a considerable amount of money in interest holding costs.
Typically, my builder’s drawdown schedule would go something like this for a dual-occupancy development:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab less deposit paid – 20%
Frame and trusses – 20%
Lock up – 25%
Mould out – 25%
Completion – 10%
By requesting a change of just a few percentages over each phase we can save thousands of dollars for our clients.  This was our proposed change to the schedule:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab Less deposit paid – 15%
Frame and Trusses – 20%
Lock up – 20%
Mould out – 25%
Completion – 20%
This is a much better schedule for our clients as there is more to be paid towards the end of the build.  Not only does this save on interest costs, but it keeps the builder ‘in the game’ as there is more for him due at the back end of the build.
If I was really good at maths, I could calculate the exact amount saved be tweaking the percentages....but alas, I’m not that clever.  So here is a challenge for all you clever readers...
Assumptions:
Build cost and construction loan is $500,000,
Total build time frame is five months from slab down.
An equal amount of time between each phase, although not likely, just to make it easier to calculate.
Interest rate 7%.
Can you tell me what would be the difference in interest payable for each scenario?  I look forward to hearing from you. Please email your answers to: <a href="mailto:jo@propertybloom.com.au">jo@propertybloom.com.au</a>
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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The amount of time a development takes will vary

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Property developer Stockland is upbeat about the outlook for new residential housing after it achieved 499 net deposits in September for its residential community projects out of a total of 1,092 deposits taken for the three month to September 30.



The September result was the best monthly result since October last year and follows Stockland’s annual spring marketing campaign.



The figures reflected strong sales in recently launched projects at <a target="_blank" href="https://www.stockland.com.au/home-and-land/vic/allura.htm">Allura </a>in Melbourne, <a target="_blank" href="https://www.stockland.com.au/home-and-land/qld/vale.htm">Vale </a>in Queensland and<a target="_blank" href="https://www.stockland.com.au/home-and-land/wa/whiteman-edge.htm"> Whiteman Edge </a>in Perth. In addition, Stockland says there is “strong interest in its Brooks Reach development in NSW, to be launched next week. 



“Improved momentum has continued this month and while two months doesn’t represent a trend, the figures are encouraging,” the developer reported at its AGM in Sydney.
It also highlighted a “positive shift in market sentiment”, which started in late August, “particularly in the key south-east Queensland market, which was soft following the floods earlier this year”. 
Stockland says the Queensland government $10,000 Building Boost Grant (available to anyone building or buying a new home in Queensland under $600,000 between August 1, 2011 and January 31, 2012) had improved sentiment and activity in this market.  



“While sales in Victoria are down from the very high levels of a year ago, they seem to be stabilising,” it adds.



Managing director Matthew Quinn says the first-quarter figures firstly demonstrate a recent general improvement in customer sentiment and buying activity at Stockland projects and secondly shows that the focus on high-quality, affordable products is bearing fruit with outperformance against key benchmarks.  

“Our goal is to cater for diverse groups [of customers], providing affordable housing solutions built around community hubs with high-quality retail centres, social infrastructure and employment generating facilities,” he told shareholders.
For advice on buying off the plan, download our free e-book.
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