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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A luxury apartment complex that will replace a demolished commercial building on the border of Mosman and Cremorne on the Sydney north shore will be marketed off the plan by CBRE agent Paul Tutt.
“Esque” will incorporate 29 apartments in a four-storey complex at 100 Glover Street on the edge of Cremorne Junction on the North Sydney shore.
It is being developed by Sydney-based developer Helm, which paid $9.8 million for the 1,906-square-metre, three-storey commercial building in September 2010.
It was sold with the development application by the Charter Hall Diversified Property Fund at 10% above the book value in a deal negotiated by Simon Fenn and Stuart Cox of CBRE and Geoff Smith and Tim Abbott of LJ Hooker Mosman.
The fund bought the building for $10.3 million in June 2007 in a deal negotiated by Jones Lang LaSalle. It was leased by EMI up until 2011 as its state headquarters with a yield of 8%.
The sale of the site to developer Helm  for $9.8 million equated to $280,000 per unit site, according to CBRE agent Stuart Cox.
In February 2002 it was bought by the Kador Group for $8.1 million.
The commercial building, the former state headquarters of music group EMI, has been completely demolished to make way for the apartment complex.
Construction will begin in November and is due for completion in early 2013.
The project has been designed by Peter Conley, the architect behind Abode Property’s Sanctum at Cronulla, winner of the HIA’s 2010 National Award for Australian Apartment Project of the Year.
Helm is seeking prices in excess of $1.35 million for a three-bedroom unit, $875,000 for a two-bedroom unit and $565,000 for a one-bedroom unit.
The four three-bedroom penthouses range in size from 127 to 167 square metres internally (plus 28- to 124-square-metre balconies) and 10 three-bedroom apartments ranging in size from 110 to 136 square metres (plus 21- to 28-square-metre balconies).
The five two-bedroom apartments range in size from 84 to 91 square metres, and the 10 one-bedroom apartments range in size from 52 to 74 square metres internally, excluding balconies.
Sustainability will be a key feature, with the design incorporating a 75,000-litre underground tank to harvest rainwater. The recycled water will be used for landscaping irrigation as well as providing water for car wash bays.
Other green features include a range of passive energy saving innovations, urban ecology techniques and permaculture initiatives.
Apartments on the eastern side of the upper floors will gain views of Sydney Harbour.
The development is close to the cosmopolitan Military Road retail strip, which includes the Art Deco Hayden Orpheum Picture Palace and is due for completion in early 2013. Construction is due to start in November.
Esque will feature handcrafted face bricks, glass balustrades, a combination of fixed and moveable louvre screens and a naturally weathered zinc tactile outer “skin”.
Other noteworthy features include a lobby of textured bluestone flooring and a feature wall of Pietra marble, intimate garden spaces and a four-storey high wall of evergreen climbing plants.
According to Mark Monk, general manager of Helm, the apartments will be ideal for those buyers who want to live in a spacious apartment close to the city.
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lschlesinger-FZcF9M3vE6

New life for Charter Hall Cremorne commercial holding

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
The first residential project in Australia to achieve five stars is not the eco-mansion you might imagine.
<img src="/images/stories/lilyfieldgreen.jpg">
These stars – which have only been available to multi-residential projects since 2008 – were awarded to the Lilyfield Housing Development in Sydney’s inner-west (pictured above).
The social housing complex, which includes 88 one-, two- and three-bedroom units, achieved its status thanks to a significant investment in eco-initiatives aimed largely at keeping costs down for tenants.
Romilly Madew, CEO of the Green Building Council of Australia, explains: “Take Lilyfield’s gas-booted hot water system as an example. It caters for 60% of hot water consumption and will be able to deliver annual savings of $213 per unit, meaning the annual energy bill for households will decrease by 25%.
“Green buildings really do provide tenants and owners with a buffer against future increases in water and energy costs and protect against service shortages.
“Highly efficient appliances, increased insulation, reduced lighting loads, passive solar energy and ventilation, and water conservation measures all lead to more dollars in the bank,” she says.
<img src="/images/stories/redferngreen.jpg">
Housing NSW has since achieved another five-star ratings for the redevelopment of its Redfern site (pictured above), which will include 66 apartments and 40 townhouses, many of which will house aged and disabled members of the community.
According to a department spokesperson, raising the environmental bar also lifts the wellbeing of residents.
“Assisting low-income and disadvantaged households with the reduction of energy and resource consumption has clear economic benefits, but it also improves their health, not to mention comfort levels at home,” the spokesperson says.
“For example, residents enjoy houses that are naturally ventilated, and because there is no general parking they are encouraged to use bikes.”
Housing NSW is committed by its own regulations to adopt voluntary green rating tools to a five- or six-star standard when building new projects.
As such, it is able to lead the way not only for social housing but for sustainable residential design in general.
Madew says that although the green star system is designed to be voluntary as a means of recognising and rewarding those who push the envelope, she encourages governments to mandate green star ratings for all the buildings they own, operate or develop.
“This is important as it demonstrates governments’ commitment and leadership and will help to drive ever-increasing levels of sustainability.”
The immediate challenge for the private sector is meeting the perceived higher construction costs associated with green star projects, and having confidence this will lead to solid returns.
But architect Kevin Masci of Bates Smart says a green-star rating can be a real marketing edge.
<img src="/images/stories/convesso2.jpg">
At Convesso (pictured above), the stunning development on Melbourne’s Victoria Harbour with four green stars, Masci says any additional costs were offset against “less important building elements” to ensure only minimal costs were passed on to buyers.
“Despite the sustainability credentials, Convesso apartments are not necessarily more expensive than similar apartments in the Docklands, they are still market competitive,” he says.
“At the moment buyers embrace green star features, providing it’s at a reasonable cost, but in time green star residential buildings will be recognised as the new state-of-the-art.”
Convesso, with its soaring twin towers, penthouses, pool and gym, is just one example of how buyers can be reassured that neither creature comforts nor aesthetics are sacrificed in the name of a green star rating.
<img src="/images/stories/thesummer.jpg">
The design of The Summer (pictured above), a four-star green development along South Beach Promenade in Fremantle, was in fact inspired by an understanding and respect for the environment.
“Perth weather can often be extreme, with strong sun, heavy rain and wild wind, which made it more sensible to employ a passive design that responds to the benefits and forces that characterise the climate,” says architect Daniel Grinceri of Donaldson Warn.
“Sustainability was an important design principle that informed the early concept stage and therefore influenced the aesthetic direction of The Summer”.
Romilly Madew admits that take up of green star residential projects has been slow to start.
“But as the business case grows, we expect the uptake of the residential tool to follow the trajectory of the Green Star office tool.”
<img src="/images/stories/delta.jpg">
And if Grocon’s Delta building (pictured above) – a 10-storey apartment complex made completely from timber – is anything to go by, we have a lot to look forward to.
Delta aims to be carbon-neutral and is due for completion on its inner-Melbourne site in 2014.</body></html>

cknowlton-QnEa6ntUYP

Residential buildings shoot for the (green) stars

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61/67 Carabella Street, Kirribilli, NSW, 2061
<img src="/images/stories/formjuly20nsw.jpg">
<div>
 <div></div>
<div>Within walking distance of Sydney's foreshore and offering harbour views, this two-bedroom, one-bathroom apartment sold at auction on Saturday, July 23 for $930,000. <a target="_blank" title="Sydney Boutique Property" href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1701015&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1">Sydney Boutique Property </a>agents Tom Scarpignato and Chris Delaney marketed the property with $860,000 plus hopes, and the current tenant pays $945 a week and wants to stay. This represents a yield of 5.28%, considerably higher than the indicative gross rental yield for units in Kirribilli of 4.9%, according to RP Data. The light-filled property includes one car space and a sunny balcony.  </div>
For more on rental yields, average prices and other information about this suburb, visit the <a target="_blank" title="Kirribilli" href="/news">suburb page of Kirribilli.</a> 
For other investment possibilities that went to auction at the weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
4 Lancewood Walk, South Morang, VIC, 3752
<img src="/images/stories/lancewood.jpg">
This three-bedroom, two-bathroom townhouse in the northern Melbourne suburb of South Morang is situated opposite parklands. It went to auction by <a target="_blank" title="Ray White Bundoora" href="https://www.raywhitebundoora.com.au/buying/search/detail.aspx?id=RWB1579&amp;wlid=0a6427b8-ae5c-4152-996f-d0f5768c9b5f">Ray White Bundoora</a> agent Joe Torzillo on Saturday, July 23 at 10.30am and was passed in. It is still on the market, with hopes of $310,000 plus. According to RP Data, median asking rent for houses in South Morang is $360 and indicative gross rental yield is 4.5%.  
For more on rental yields, average prices and other information about this suburb, visit the <a target="_blank" title="South Morang" href="/news">suburb page of South Morang</a>.
 
<hr class="system-pagebreak">
 
32 Boustead Circuit, Kambah, ACT, 2902
<img src="/images/stories/bousted.jpg">
On an 851-square-metre block in the family-friendly suburb of Kambah, this three-bedroom, one-bathroom house will likely appeal to tenants, as it is within walking disatance of shops and transport and is close to prestigious schools. It was sold by <a target="_blank" title="McGrath Gungahlin" href="https://www.mcgrath.com.au/131463/?searchID=7735615">McGrath Gungahlin</a> agents Greg Ward and Nathan Harford at auction on Saturday, July 23 for $402,500, above the pre-sale price hopes of $395,000 plus. Median asking rent for houses in Kambah is $460 per week and indicative gross yield is 5% in the area, according to RP Data.  
For more on rental yields, average prices and other information about this suburb, visit the <a target="_blank" title="Kambah" href="/news">suburb page of Kambah</a>.
</div>
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Yields of 5.28% in Kirribilli

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
With growing evidence that higher green star and National Australian Built Environment Rating System ratings will be reflected in increased asset values – if they aren’t already - the question of where that leaves the market for less sustainable buildings is a crucial one. Owners of buildings with lower ratings could actually use this as a selling point when taking their assets to market.
Recent evidence suggests buildings with higher sustainability ratings show better returns, as consumption costs are generally lower and capital values of green buildings held firmer during the economic downturn.


Inevitably, higher ratings will be reflected in increased asset values. But this doesn’t mean good-quality older building stock is irrelevant in the marketplace.


With the introduction of the CBD scheme, there is nowhere for buildings with lower NABERS ratings to hide when seeking to attract a tenant or a buyer. But instead of making these buildings less marketable, savvy agents are turning it around as a positive, be it through offering the prospect of cheaper rents for tenants or potential capital upside opportunities for buyers.
At the end of the day, tenants and owners alike still value location and amenity, and if a lower rating also provides a value-add opportunity through refurbishment or reduced occupancy costs, the asset itself will remain competitive.
It is feasible that owners of one-star NABERS-rated buildings may focus their marketing campaign on this point as a key selling feature.
The key to unlocking genuine financial gains through sustainability is to implement a process of continually upgrading assets to minimise costs, particularly relating to energy and water consumption, to drive net return increases.
This makes particular sense in the current climate for owners looking to future-proof their assets or for those seeking to maximise value from recent commercial purchases.
Those who are undertaking upgrades now should benefit in the medium term, as the current work shortage in the construction sector enables these improvements to be undertaken at lower cost. These owners will also benefit from being able to charge higher rents to tenants whose outgoings are smaller due to the greater efficiency of the building.
David Woolford is managing director of Australian operations of <a target="_blank" title="Cushman &amp; Wakefield" href="https://www.cushwake.com/cwglobal/jsp/localHome.jsp?Country=2200192">Cushman &amp; Wakefield</a>
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davidwoolford-LDjkguJMkQ

All is not lost for buildings without green-star ratings

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NSW consumers are glass-half-full types when it comes to the housing market, with the ratio of optimists to pessimists higher there than in any other state or territory, according to Westpac’s July Red Book. 
In the July Westpac– Melbourne Institute Consumer House Price Expectations Index, Westpac senior economist Matthew Hassan notes that NSW housing market optimists outnumber pessimists by 24%.
However, Hassan warns of the fragility of consumer views on housing: “The consensus [on housing] also seems to have low conviction with opinions very erratic month to month, especially at the state level.”
The most pessimistic states are Queensland and South Australia, with pessimists outnumbering optimists in the Sunshine State.
Nearly half (47%) of Victorian consumers expect house prices to rise. Western Australian consumers are the least worried about the market, with only 13% expecting house prices to fall.
Overall, 42% of Australian consumers expect house prices to rise over the next year, a third expect prices to be steady, and 26% expect declines. This is the weakest mix since May 2009, when a third of consumers expected rises and a third expected price falls.
 Hassan warns that weaker prices and reduced price expectations will reinforce the shift to consumer caution and increased saving.
Released at the same time as Westpac’s Red Book, the NAB July quarter business survey shows that business conditions improved for the construction sector in the second quarter of 2011 but worsened for those in property.
According to NAB, business conditions in mining remain the strongest across all sectors, with the gap between the best- and worst-performing sectors widening to a point last seen during the 2000 recession.
Conditions improved for the construction sector in the July quarter. According to NAB, the increasing gap between weak and strong industries is due to a weakening in the poor performers, rather than strong performers like mining doing better.
Overall, while business conditions improved slightly in the June quarter, they remain soft, with confidence down and further weakness expected in the near term.
In the June 2011 quarter profitability rose, employment eased a little and trading conditions were broadly unchanged. Forward orders remained weak and stocks were unchanged, consistent with softer domestic demand in the near term.
Conditions improved solidly in Queensland over the quarter, but it remains the weakest performing mainland state.
Confidence deteriorated across all mainland states, with the sharpest declines recorded in Queensland, NSW and Victoria. Sentiment was weakest in SA and highest in WA.
Consistent with a fall in average hours worked, short- and long-term employment expectations softened, although overall expectations remained above current levels implying that the labour market may continue to tighten.
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Optimists still outnumber pessimists, but housing sentiment turning into consumer caution: Westpac 

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By the year 2000, we were on the lookout for our next dream home. We looked at several suburbs, but decided we wanted to build. Our focus turned to a new estate at Glenwood in north-west Sydney.
Again, I scoured the Homes Pictorial, which had progressed with the times and the listings were now in colour! We found a block that was 700 square metres and put our $500 holding fee on it. However, it was not all smooth sailing.
The sales agent made an error and got confused with the lot numbers, as there were five vacant lots in a row. The lot that we had decided on had actually already been bought just the day prior. I remember sitting at work and bawling my eyes out – I couldn’t believe it. I yelled and ranted at the agent and I wanted to sue! The principal of the agency was most apologetic and he refunded our money, and our search began again.
It was not long before I spotted another block for $210,000. I asked John to go and have a look, which he did. He took his dad along for assurance. The call in the afternoon said it all: it was ours for $205,000 and John had already put down a deposit.
There had been no discussion with me (you’ll read my payback about non-discussions further in our story) but I assumed that because he and his dad had seen it, it must have been great. In fact, it was a much better position than the block we lost just a couple of weeks earlier. It was meant to be.
It was time to sell our Guildford property to fund the construction of our new dream home. It sold for $218,000. We found a suitable builder (after visiting every single display home I could find) and moved in with my parents for nine months while our dream home was being built. During this time, our second daughter, Tia, was born.
We chose a lovely home from the Henley range of properties. By chance, a week after we signed the building contract, Henley hit the headlines on all the popular current affairs shows with their incredibly poor workmanship. John and I could only look at each other and wonder: what have we done?
Fortunately, we had no problems with <place>Henley</place> and we have a fantastic home that we plan to live in for many years to come.
The facts
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="95">
Purchase price 2001
</td>
<td valign="top" width="95">
Current value 2010
</td>
<td valign="top" width="91">
Rental start
</td>
<td valign="top" width="90">
Rental current
</td>
<td valign="top" width="90">
Yield current
</td>
</tr>
<tr>
<td valign="top" width="95">
$420,000
</td>
<td valign="top" width="95">
$650,000
</td>
<td valign="top" width="91">
N/A
</td>
<td valign="top" width="90">
N/A
</td>
<td valign="top" width="90">
N/A
</td>
</tr>
</tbody></table>
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swarniecondon-aTY2bgqmPh

Missing out on our block was the best thing that ever happened

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I had to laugh the other day; the Australian Financial Review wrote a very upbeat piece on the high rate of settlement in one of Brisbane’s more recently completed riverfront apartment complexes.
The article reported a 40-odd per cent settlement rate, which isn’t something that is usually bragged about, especially in the financial press. It does, however, reflect the risks associated with developing large-scale new apartment projects these days.
Another apartment project coming up for settlement later this year is Hamilton Harbour. More than 90% (440 out of 470 in the first two towers) of the apartments are reported to be sold off the plan. While newly released apartments across inner Brisbane are now being sold at prices 20% above (based on a gross rate per square metre) the contract purchase prices achieved within Hamilton Harbour’s first two towers, this project, too, could face some risk at settlement. This time the risk lies with bank valuers.
When assessing the worth of an apartment in a project like Hamilton Harbour, valuers need to appreciate the importance of the overall project on the price of the apartment itself, as well as where the project is actually located. Also – and this is very important – they must pick comparable sales as evidence. Recent resale prices in the Urban Renewal Precinct in the likes of Freshwater, Newstead Terraces and even Ellington have more relevance than looking further afield. The apartment prices in Brisbane’s middle ring offer little in the way of comparable sales. ValEx, my friends, just doesn’t cut it.
While there are about 2,500 new apartments currently for sale across inner Brisbane and another 4,000 planned for release over the next 12 to 18 months, many of these planned apartments are unlikely to proceed in the time frames proposed. Getting enough unconditional sales in order to raise development finance will be the largest stumbling block.
Keep in mind that one in every five new residents to Brisbane (5,000 each year) now moves into the city’s inner suburbs. This is a significant turnaround, given that in the 1990s inner Brisbane was actually losing permanent residents. Also, the vacancy rate across inner Brisbane is already very tight at 1.5%. Apartment rents are increasing as a result.
Hamilton Harbour’s settlement rate should be on the development industry’s “must watch list”. Hamilton Harbour is a litmus test for the Brisbane apartment market – a beachhead, if you will.
We wish both the developers of Hamilton Harbour – Devine and Leighton – all the best. And to the more novice apartment suppliers out there, you had best do your homework and maybe have it checked by another before proceeding. Developing new apartments is getting harder by the day.
PS Last week the Queensland government made three announcements regarding the eligibility requirements for the $10,000 Queensland building boost. These include the extension of building construction deadlines for multi-unit projects from July 31, 2013 to January 31, 2015, making National Rental Affordability Scheme products eligible and excluding foreign investors from the boost.  All good things, if you ask me.
Apartment developers, in particular, however, need to be very careful about how they promote and especially embellish the $10,000 government offer. Some are already doubling, and even tripling the boost. Others are paying the stamp duties for buyers during the boost’s period. Meanwhile, some are offering free furniture packages and guaranteeing rent for an extended period. These are fine incentives – although one does wonder why it took a relatively small government grant to trigger them – but it remains uncertain if bank valuers will discount these from the purchase price upon settlement. Also, in projects with substantial presales, those who have already bought off the plan might feel more than a bit peeved that they aren’t getting the same discounts.
A bird in the hand is worth two in the bush.
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 style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Brisbane's rash of new developments could have trouble getting financing

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A fully furnished, waterfront Tasmanian property has appeared on SQM Research's Top 10 Discount List for the first time. The asking price for 588 White Beach Road, White Beach, has been cut by a dramatic 49%, from $780,000 when it came on the market in May 2010 to $400,000. The property's last price adjustement was in December 2010, when the asking price fell to $699,000.
"The vendors of this four bedroom, waterfront property, which appears to have some pleasant views have even gone to the extent of offering the property fully furnished, seemingly in a bid to sell it as soon as possible," SQM director Louis Christopher says.
It comes in at number two on SQM's discount list, which continues to be dominated by Western Australian properties. Four out of the 10 most discounted properties in Australia are in Perth suburbs. 
1
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008173508" title="1 Flora Street" target="_blank">1 Flora Street, Midland, WA, 6056</a>
On the market since: August 16, 2009
Initial asking price: $1.9 million
Current asking price: $850,000
Reduction: 55%
Days on market: 694
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093" title="588 white beach road" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 413
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">3</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579" title="1350 Wynnym Road" target="_blank">1350 Wynnum Road, Tingalpa, Queensland, 4173</a>
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 245
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903" title="3 Boolari Road" target="_blank">3 Boolari Road, Gosford West, NSW, 2250</a>
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 731
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106550670" title="1/21 Ocean Drive" target="_blank">1/21 Ocean Drive, Coogee, WA, 6166</a>
On the market since: May 23, 2010
Initial asking price: $2.7 million
Current asking price: $1.6 million
Reduction: 41%
Days on market: 413
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007562500" title="232 High Central Road" target="_blank">232-234 High Central Road, Macleay Island, Queensland, 4184</a>
On the market since: January 11, 2009
Initial asking price: $279,000
Current asking price: $175,000
Reduction: 37%
Days on market: 910
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" title="25 Vicary Street" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 343
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" title="290 Viveash Road" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,131
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317" title="3 Zelma Court" target="_blank">3 Zelma Court, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 412
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106404560" title="46a Stock Road" target="_blank">46a Stock Road, Attadale, WA, 6156</a>
On the market since: March 23, 2010
Initial asking price: $2.69 million
Current asking price: $1.79 million
Reduction: 33%
Days on market: 476
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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Asking price halved for Tasmanian entry on SQM's discount list

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{yoogallery src=[images/stories/july20stkilda]}
Photos courtesy of Tourism Victoria
The inner-city suburbs of Melbourne contain more investment hotspot opportunities than other inner-city markets, according to Australian Property Investor’s 2011 Top 100 Hot Spot survey.
According to the report, 17 out of the 100 hotspots are within a few kilometres of the Melbourne CBD.
The Bayside or inner-south region of Melbourne has six hotspots, including the fashionable café and nightspot localities of St Kilda and St Kilda East.
WBP residential advisor Sean Thomson says he picked St Kilda because it is a tightly held “popular lifestyle destination”. Metropole director Michael Yardney also nominates St Kilda as a hotspot.
Yardney expects the suburb to perform well because of its popularity with Gen Y owner-occupiers and tenants, particurlarly given its proximity to the CBD.
A lack of supply and strong and increasing demand for properties will continue to drive up prices, according to Yardney.
According to the latest RP Data research, the median house price in St Kilda stands at $860,000 and the unit price at $475,000, with prices rising over 50% over the past five years.
Monique Sasson Wakelin from Wakelin Property advisors picks St Kilda East as a hotpsot, although it does not have the bay views of its neighbour.
What you do get, she says, is close proximity to St Kilda Beach and the shopping and nightlife pleasures of Prahan.
Four inner-north Melbourne suburbs make it onto the API hotspot list, two from Melbourne’s inner northeast and five from southeast Melbourne.
Seven localities in Sydney’s inner southwest and four in Sydney’s inner south have been included on the latest list.
Inner-Sydney hotspots include Ashfield in inner-southwest Sydney, picked by Damian Collins from Momentum Wealth, and Chippendale in inner-south Sydney, chosen by RP Data national research director Tim Lawless. Factors that will drive Chippendale’s growth, according to Lawless, are its affordability and close proximity to the University of Sydney.
The survey lists nine inner-city suburbs in Adelaide and nine inner suburbs in Brisbane.
The hotspots were picked by a panel of 13 experts including researchers Australian Property Monitors and RP Data, international agency Colliers, property experts Terry Ryder, Michael Yardney and Margaret Lomas and property valuers WBP and Herron Todd White.
Thirteen locations in the Hot 100 were chosen by more than one expert: Blacktown, NSW; Coorparoo, QLD, Darlington, NSW; Gladstone, QLD; Newcastle, NSW; Port Noarlunga, SA; Scarborough, SA; Seaford, SA; St Kilda, VIC; Thebarton, SA; Toowoomba, QLD, Torrensville, SA and Townsville, QLD.
 
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Hotspots: Inner-city suburbs like St Kilda make top 100

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{yoogallery src=[images/stories/july19cotery]}
The former Joshua Pitt leather manufacturing site at 52-79 Gadd Street, Northcote, is being turned into 123 one-, two- and three-bedroom townhouses and 53 apartments. The Cotery, seven kilometres from Melbourne CBD, is being developed by Melbourne property company Glenvill and designed by architectural firm Rothe Lowman.
The development is designed to be in keeping with the existing factory and will emcompass the factory smokestack as part of the central hub. The Cotery's exterior will feature a mix of concrete, glass, metal and timber in a sympathetic addition to the site's industrial past. 
“Externally, the use of contrasting textures and materiality, together with eclectic sculptural forms, delivers awarm earthy palette and timeless design. The seamless transition of this palette indoors delivers a development with individual character and style,” managing principal of Rothe Lowman Kim Lowman says.
Glenvill managing director Len Warson says the aesthetics of the building were a key consideration from the beginning.
"We told the architect go for broke, make it as beautiful as you can, and we’ll make the cost work," he told Property Observer. 
"It’s a beautiful development aesthetically, the fittings are beautiful and include things that you would never normally get in townhouses."
After being listed with $13.5 million plus hopes in 2010, it was speculated Glenvill paid about $15 million for the 13,450-square-metre site through DTZ marketing agent Patrick O'Callaghan and Richard O'Callaghan. The site spreads over two streets.
Northcote is known for its bohemian atmosphere, funky cafes and art scene, and The Cotery is within walking distance of the suburb's retail and entertainment hub.
“The market it Northcote is very creative, and very particular, so we needed to create a product that didn’t take shortcuts, that creatively was strong and responded to what the local audience wanted," Warson says.
"What is available in Northcote is mostly apartments, whereas this is mostly townhouses. We are more architectural."
"It’s far more contemporary than other developments we’ve done in recent times. Because it’s Northcote, that’s what the audience wants. We respond to the environment rather than having a formula."


Joshua Pitt was based at the Gadd Street property for 121 years. Manufacturing at the building ceased in 2004. 


One-bedroom townhouses, which are 80 square metres, start at $495,000 in the development. The 63 two-bedroom, 120-square-metre townhouses begin at $640,000, and the 30 three-bedroom townhouses, which have a minimum of 165 square metres, range from $725,000.
The 12 apartments within the original leatherworks building will range from 70 square metres to 120 square metres and will start at $575,000.
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