Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

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?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Approvals for the construction of new homes in Victoria in January fell 25% year-on-year, according to new ABS figures.
On a seasonally adjusted basis there were just 2,348 approvals in Victoria in January 2012, compared with 3,138 in January 2011.
There were also small falls in private sector house approvals in New South Wales and WA.
Queensland was the strongest state for private sector house approvals, recording a 31% increase month-on-month.
Nationally, building approvals for both houses and units – a forward indicator of demand for new housing – continued to trend downward despite a big jump in NSW apartment approvals and a small improvement in January.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/hiamarch1.gif"><img src="/images/stories/hiamarch1thumb.gif"></a>
In the month of January 2012 total seasonally adjusted building approvals increased by 0.9% to 11,729, with approvals for new house construction remaining flat at 0.1%  (7,508 houses) and approvals for units and other non-detached housing rising 1.5% (4,024 units).
Total seasonally adjusted building approvals increased by 7% in South Australia in January 2012, and in trend terms approvals rose by 2.6% in the Northern Territory.
In January this year total seasonally adjusted building approvals fell by 2.7% in Victoria, 22.1% in Queensland, 0.3% in Western Australia and 2.9% in Tasmania.
The trend number of building approvals fell by 13.9% in the Australian Capital Territory.
Despite the monthly improvement, overall approvals are down a cumulative 14.6% on figures a year ago with detached house approvals down 7.4% for the year and the more volatile apartments market down 23.3%.
The bright spot in the figures was NSW, with approvals rising 37.6% over the month led by a massive 90% jump in approvals in the more volatile apartments market.
Excluding NSW, HIA economist Harley Dale says approvals fell by nearly 9% in January.
“Housing has a large reach into the wider domestic economy in terms of both output and employment and urgent attention is required to turn the new residential building sector around,” he says.
“The profile for building approvals in late 2011/early 2012 continues to imply a level of housing starts comparable to the very weak levels endured around the GFC. It’s hard to call that a bright update for the domestic economy,” says Dale.
“Australia’s interest rate settings are too high and there needs to be immediate government focus on policy reform to boost flagging levels of new housing supply.”
CBA economist James McIntyre says the January building approval figures add to the “do-nothing” case for the RBA.
“It is too early to see the impacts from last year’s cuts.  They are yet to filter through.  At the same time, the data does not show any material weakening, which would be required to get the RBA to move off the sidelines,” he says.
“Our current expectation is that the RBA will cut rates once more in the second quarter of 2012.”
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Building approvals down in January, led by 25% fall in Victoria: HIA 

<html><body>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpdatamarch12.gif"><img src="/images/stories/rpdatamarch12thumb.gif"></a>
 
 
 
</body></html>

po-LsXgBTHBmX

National house price fluctuations since 1997: RP Data-Rismark

<html><body>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpdatamarch11.gif"><img src="/images/stories/rpdatamarch11thumb.gif"></a>
 
 
</body></html>

Canberra only capital with house price gains in year to February 2012: RP Data-Rismark

<html><body>
The new RP Data-Rismark Daily Home Value Index will be the first set of indices to provide “real-time daily home value indices”, says RP Data CEO Graham Mirabito.
The first edition of the daily index (March 1) is out today and shows gains for Sydney, Melbourne and Brisbane:
<img src="/images/stories/rpindexmarch11.jpg">
Launched in conjunction with the Australian Securities Exchange (ASX) as future tradeable index, it is also offers investors and buyers the world's first home value indices that track asset-class stock.
“For the past three years RP Data and Rismark have had a major research and development project underway to produce accurate daily housing market value indices,” Mirabito says.
“Our new 'hedonic imputation' methodology is an improvement on the previous flagship 'adjacent period hedonic' measurement and has been designed to be a tradable index.”
Mirabito says the primary benefits of the improved index methodology are:
<ul>
<li>Timely updated daily just one day in arrears </li>
<li>Not compositionally biased by different buyer segments that are active or inactive </li>
<li>All dwellings are included in the measurement not just those that have transacted </li>
<li>Non revisionary providing greater certainty about actual market conditions </li>
<li>Independently audited by both EWS (headed by Dr Alex Frino who also heads Capital Markets CRC and is a professor of finance at the University of Sydney) and KPMG (process) </li>
<li>Designed to be tradable tracks a true portfolio of properties. </li>
</ul>
The daily updates of the index values will be featured on both the RP Data website as well as at the <a href="https://www.asx.com.au/propertyindices" target="_blank">Australian Securities Exchange</a>.
Brian Goodman, ASX’s product development manager, said in a statement the index would give an important window into the residential market, which makes up a big portion of the average household’s assets.
He also said it would help the ASX develop exchange-traded products, which would allow investors to replicate the return and broad performance characteristics of the Australian residential property market.
“The RP Data-Rismark Daily Home Value indices overcome a number of the shortfalls present in existing property indices and in so doing support ASX’s longer term product development objectives,” Goodman said.
“To develop the daily indices there has been significant investments in new data collection which we have leveraged specifically for our property and finance industry customers. Following the indices launch we will be providing new data and analytics on a weekly basis for property and mortgage market activity that will deliver near real time business intelligence at the local level,” Mirabito says.
The index will not be tradeable until it has passed regulatory hurdles. 
</body></html>

Forget the landlord-tenant gripes: Stand by for a tradeable property ASX futures index

<html><body>
RP Data-Rismark now offers a daily hedonic index tracking housing prices in Australia's five major capitals.
<a href="https://www.propertyobserver.com.au/data-map" target="_self">Click here for median house and unit price information in your suburb</a>.
<img src="https://www.urban.com.au/images/stories/2014/03/07/rp-data-march-7.gif" alt="rp-data-march-7" width="470" height="375">
Get an automatic valuation of your property within five minutes: <a class="myrpdata_logo" href="https://www.myrpdata.com/" target="_blank"><img src="https://www.urban.com.au/images/myrpdata.png" alt="My RP Data"></a>
Get detailed reports on individual properties, specific streets or a postcode: <a class="myrpdata_logo" href="https://www.myrpdata.com/" target="_blank"><img src="https://www.urban.com.au/images/myrpdata.png" alt="My RP Data"></a>
</body></html>

RP Data-Rismark March 7 daily index

<html><body>
Median house prices: February 29, 2012
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="307">
Sydney
</td>
<td valign="top" width="307">
$516,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Melbourne
</td>
<td valign="top" width="307">
$500,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane and Gold Coast
</td>
<td valign="top" width="307">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Adelaide
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Perth
</td>
<td valign="top" width="307">
$460,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 5 capital cities
</td>
<td valign="top" width="307">
$450,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Hobart
</td>
<td valign="top" width="307">
$340,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Darwin 
</td>
<td valign="top" width="307">
$487,500
</td>
</tr>
<tr>
<td valign="top" width="307">
Canberra
</td>
<td valign="top" width="307">
$555,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane
</td>
<td valign="top" width="307">
$430,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 8 capital cities
</td>
<td valign="top" width="307">
$455,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
Median unit prices: February 29, 2012
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="307">
Sydney
</td>
<td valign="top" width="307">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Melbourne
</td>
<td valign="top" width="307">
$416,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane and Gold Coast
</td>
<td valign="top" width="307">
$355,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Adelaide
</td>
<td valign="top" width="307">
$320,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Perth
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 5 capital cities
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Hobart
</td>
<td valign="top" width="307">
$260,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Darwin 
</td>
<td valign="top" width="307">
$380,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Canberra
</td>
<td valign="top" width="307">
$430,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane
</td>
<td valign="top" width="307">
$360,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 8 capital cities
</td>
<td valign="top" width="307">
$395,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
 
</body></html>

Capital city house and unit prices: RP Data-Rismark

<html><body>
Melbourne led a rebound in capital city dwelling prices in February, with the Victorian capital recording 1.8% growth for the month, according to the new RP Data-Rismark Daily Home Value Index.
On a rolling quarterly basis during the three months ending February 2012, Australian capital city home values fell 0.2%.
Based on the new daily index, this was the best quarterly reading since the three-month period ending March 2011.
RP Data head of research Tim Lawless says the results in February suggest the decline in house prices has been easing  though he does not believe the November and December rate cuts were enough to drive back growth into the housing market.
"The November and December RBA cash rate cut shave improved affordability but have not yet fed into higher home values, which is no surprise. A return to housing market stability is likely the outcome the RBA was hoping for,” he says.
According to Lawless, the amount of housing for sale had fallen 20% since November, but is still 20% higher than the same time last year, which was already relatively high.
“It points to soft conditions but not quite as bad as the market was seeing over the last quarter of 2011."
<p style="font-size: 1.4em; line-height: 1.4em; margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; color: #333333; font-family: Arial, Helvetica, sans-serif; text-align: left; padding: 0px;">Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpmarch1.gif"><img src="/images/stories/rpmarch1thumb.gif"></a>
Looking at the division between houses and units, Melbourne house prices were up 2% over the month – the strongest gain across the five major capital city markets – while units gained a more modest 0.3%.
According to the new daily index, Melbourne house prices received a boost on the last day of February, rising 0.67%, with gains also recorded in Brisbane and the Gold Coast (up 0.32%) and Sydney (up 0.25%).
The new daily index launched in conjunction with the ASX allows property investors and buyers to track (and eventually trade) the daily changes in capital city house and unit prices.
It replaces the current monthly RP Data-Rismark Home Value index.
Overall the capital city dwelling values increased 0.8% in February 2012, leaving the market relatively flat (-0.2%) during the first two months of the year.
Sydney matched the capital city increase, with dwelling prices rising 0.8%, while Brisbane values were flat (0.1%).
Perth dwelling prices continued to fall, dropping by 1.8%. This was a steeper fall than 1.6% decline recorded in January.
“The strong February results, accented by capital gains in Melbourne and Sydney of 1.8% and 0.8%, respectively, likely reflect the impact of the November and December rate cuts,” says Rismark’s Ben Skilbeck, also the architect of the new daily index.
“Even before the RBA reduced rates, housing finance flows were staging a rebound with the ABS reported seasonally adjusted number of new home loans approved for people buying established dwellings rising for nine consecutive months,” he says.
Of the smaller markets, Darwin was the most impressive, with dwelling prices up 5% during February and Darwin house prices up 6.2%
Hobart had the strongest units market, with gains of 3.4% during the month.
Over the past three months to February Darwin was the strongest-performing capital city market, with dwelling values up 4.1% and is also offering the highest house rental yields of 5.8%.
RP Data’s Tim Lawless says some of the weaker markets over the past few years are now starting to show promise: 
“The Perth housing market is a good example of a city that has been one of the softest locations since 2008. This market appears to be staging a turn-around with dwelling values now 2% higher compared with the October 2011 trough.” 
“Perth dwellings values have corrected by 10.1% since their peak back in April 2010, which has provided a significant affordability dividend. We are also seeing Perth housing demand being driven by strong population growth underpinned by the resources investment boom. Despite a weak monthly result for February, Perth dwelling values were up 0.8% over the last three months,” he says.
Canberra has the strongest unit yields, with a gross indicative yield of 5.8%.
Melbourne offers investors the lowest gross rental yields of 3.5% for houses and 4.3% for units.
RP Data says the next daily index will provide the most up-to-date and sophisticated measure of value movements across the Australian housing market.
The index provides daily capital growth measurements across three broad housing types: houses, units’ and a “combined dwellings” index that includes both houses and units. The index results are released daily for Sydney, Melbourne, Brisbane (including Gold Coast), Adelaide, Perth and the combined capitals, which is a composite of these cities.
<img style="border-style: initial; border-color: initial;" src="/images/stories/rpindexmarch11.jpg">
It is the first commercially available residential index to track daily value movements across the market portfolio of all dwellings.
“The daily index is the result of three years extensive research and development. It is specifically designed for trading purposes and tracks the value of an investment in a self-financing market portfolio (all dwellings),” Skilbeck explains.
“That is, the index removes bias associated with capital injections such as those arising because of renovations, alterations and additions so as to examine true changes in market value.”
Along with the launch of today’s daily index, RP Data <a href="https://www.rpdata.com/research/back_series" target="_blank">has provided a backdated series for the past year showing the granular changes</a>. 
The benefits of the new index will include timeliness – updated daily to reflect the latest available property market information; granularity – “intra-month” index movement insights available for the first time; and low volatility – measured annual volatility remains comparable, between the monthly adjacent period hedonic and will cover the overall market. All dwellings are included in the measurement, not just those that have transacted.
</body></html>

Melbourne leads slight rebound in capital city house prices in February: RP Data-Rismark daily index

<html><body>
After several years of research and development, Rismark and RP Data, in conjunction with the Australian Stock Exchange (ASX), have announced this morning two global firsts in the closely followed housing space:
(1) the launch of the world’s first genuine “daily” house price index suite, which will cover all the major cities and the national market and will be quoted by the ASX as a precursor to the development of exchange-traded products, such as house price index-linked “futures”; and
(2) the launch of house price indices that track the change in the value of the overall asset class (known as the “stock”) rather than simply being limited to the 5% to 6% of all homes that transact each year (called the “flow”).
Based on their new daily hedonic home value index, RP Data-Rismark report that dwelling values across Australia’s eight capital cities rose 0.8% in the month of February, although due to a slump in the seasonally slow month of January year-to-date dwelling values are still soft-to-sideways (-0.2%).
Encouragingly, in the month of February, dwelling values rose 0.8% in Sydney, 1.8% in Melbourne, 1% in Adelaide, 2.2% in Hobart, 5% in Darwin, and 1.9% in Canberra. The only cities to record falls in home values in February were Brisbane (-0.1%) and Perth (-1.8%).
These ASX-quoted daily house price index products should improve the accuracy and timeliness of the information available on Australia’s largest investment class, residential housing, which is valued at $4 trillion in total. They will also offer us the first historical insights into what happens to house prices on an “intra-month” basis.
In the ASX’s release today, Rismark’s Ben Skilbeck said, “RP Data-Rismark’s daily index is specifically designed for ‘trading’ purposes and tracks the value of an investment in a self-financing portfolio of dwellings. The index removes biases from renovations, alterations and additions so as to examine true changes in market value. The daily indices also address the compositional biases that plague ‘median’ and ‘repeat-sales’ techniques.”
Analysts in this area will recall that most house price indices currently report on a quarterly frequency. Rismark and RP Data broke ground by publishing a low-volatility monthly “hedonic” house price index back in 2006, which has been embraced as the leading benchmark by the RBA and bank economists.
Bill Evans, chief economist of Westpac, commented, “RP Data-Rismark are the RBA’s ‘preferred data analysts’ for house prices,” while CBA’s Craig James said, “RP Data-Rismark’s index has emerged as Australia’s authoritative source on home price trends”.
But the notion of accurately tracking daily movements in Australia’s most talked-about asset class is a potential game changer. As the first chart below shows, the new daily index moves in a generally similar fashion to the old monthly version when calculated over the long run (in this case since 1995).
Click to enlarge
<a href="/images/stories/march11.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march11thumb.gif"></a>
However, on an “intra-month” basis the daily index opens up fluctuations in house prices that frankly nobody has ever been exposed to before. This is highlighted by the second chart below, which compares the daily index with its monthly predecessor, but this time sampling daily and monthly, respectively. Observe how the monthly index looks like a smoothed version of the daily.
Click to enlarge
<a href="/images/stories/march12.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march12thumb.gif"></a>
Throughout history researchers have been restricted to “low-frequency” house price proxies that look like the red line in the above chart. Around the world, house prices are typically reported with a one-month to four-month lag. Even in Australia, RP Data-Rismark’s old benchmark was reported with a one-month lag while the ABS publishes on a quarterly basis one month after the end of the quarter.
Going forward, we will get daily updates on movements in Australian home values. Will this open us up to the wild swings associated with the share market? The short answer is: no.
In the final chart I’ve compared daily changes in the S&amp;P/ASX 200 share market index with RP Data-Rismark’s new benchmark. This puts into striking perspective questions about the volatility of the new daily measure, which, as you can see, is substantially less variable than its listed equity equivalent.
Click to enlarge
<a href="/images/stories/march13.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march13thumb.gif"></a>
The differences in the chart above accord with what we understand about housing as an asset class more broadly: once you diversify at the national “index” level, volatility is very low and a fraction of the riskiness of equities. Of course, it’s not very easy to invest in a house price index. That is precisely why the ASX has got involved.
ASX product development manager Brian Goodman said today that the exchange is investigating “the creation of exchange-traded products with the objective of allowing investors to replicate the performance characteristics of Australian residential property. The ability to obtain and optimise residential property exposures with an exchange-traded product will enable investors to efficiently manage exposure to this asset class.”
“The RP Data-Rismark indices overcome a number of shortfalls present in existing indices and in so doing support ASX’s longer term product development objectives” Goodman said.
One obvious question is: how did they do it? The technology underlying the new daily index is sophisticated, and, if you are really interested, you can read three different papers on it <a href="https://www.rpdata.com/research/rp_data_rismark_home_value_index_methodology">here</a>.
The daily index leverages off the fact that in Australia all homes sales are collected and reported by valuer-general’s offices – i.e., we don't have “small sample” biases like the US or UK – and RP Data’s enormous financial investment in extra data-gathering.
The simplest explanation as to how the index works is this. First, RP Data has very detailed information on 99% of all Australian homes, including the exact address, land size, property type, historical sales prices paid for the property, its distance to the local GPO, listing information for the home and like dwellings in the area, its number of bedrooms, bathrooms, and car spaces, and whether the property has things like a pool or a tennis court. In addition to this information, RP Data captures, on average, about 1,400 new home sales every day.
For the purposes of the daily index, RP Data and Rismark have taken a portfolio of around 5 million capital city homes across Australia, and all of the specific attribute information that pertains to them, and used the flow of incoming sales data to re-price the portfolio.
This is similar to the way most financial market indices work. Consider the ASX’s All Ordinaries Accumulation Index. This includes every company listed on the ASX. Each company has a weighted contribution to the index. As new sales data is received, the company’s price is updated, and the index changes accordingly.
RP Data’s Tim Lawless adds, “The daily index production is reliant on timely updates from RP Data’s core database of more than 170 million property records. It has been independently audited and is calculated every day on RP Data’s secure servers.”
Researchers will want to ask obvious questions, like: how do the returns differ over time between the two methods; is the new index more volatile than the daily index; and why don't you seasonally adjust the ASX indices?
Analysis of the new and old indices shows that both their monthly volatility and average annual returns are very similar (e.g., over the last few years, monthly volatility for the daily index has been 0.84% while the old index’s volatility was 0.83%).
This is important. As the first chart above shows, the daily index does not tell us anything especially new about the low-frequency direction of Australian home values over the last 15 years.
It will, however, give us important new insights into weekly, fortnightly and monthly changes in national home values on a daily, rather than a one-month-lagged, basis.
On the question of seasonal adjustment, RP Data and Rismark are currently undertaking a detailed review of the methods they use for controlling for seasonality in house price movements. Upon completion of the review, they will commence publishing a seasonally-adjusted ‘analytical series’, much like the ABS does with its inflation data.
However, as is the case with financial contracts traded on inflation (or any other asset for that matter), the “tradeable” index will track actual or “true” changes in home values, rather than a statistically smoothed series.
Christopher Joye is a leading financial economist who serves as a director of Yellow Brick Road Funds Management and Rismark International. Christopher was actively involved in the development of the <a href="https://www.rpdata.com/research/daily_indices">daily indices</a> during his time as an executive of Rismark.
 
 
 
</body></html>

chrisjoye-JYhJsTrNRC

New daily index shows Aussie home values rose 0.8% in February: Christopher Joye

<html><body>
Residential construction activity fell 1.8% in the final quarter of 2011 to be 6% lower than a year ago, according to the latest data from the ABS. 
Overall construction work done fell by 4.6% in the December quarter after surging 11.7% in the September quarter. 
This was mainly the result of a 24.4% decline – expected to be temporary – in construction work done in WA. Construction in WA rose by 45% in the previous quarter. 
“We are not of the view that WA’s engineering construction boom is over. Recent project announcements for the expansion of iron ore projects are but one example pointing to the opposite,” says CBA economist James McIntyre. 
Commercial building work done fell by 7% in the December quarter while engineering work done fell by 5%. 
The drop in overall construction activity will drag on economic growth, with the Commonwealth Bank trimming its GDP forecast slightly as result of the latest figures. 
The CBA had forecast annual GDP growth of 3.25% for 2012. 
“Construction work done provides a guide to the likely contribution to GDP from residential and non-residential (commercial and engineering) construction activity,” says McIntyre.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/cbafeb29.gif"><img src="/images/stories/cbafeb29thumb.gif"></a>
Master Builders Australia (MBA) chief economist Peter Jones says the fall in building and construction work done in the December quarter is consistent with reports of poor industry conditions.
“With major parts of the industry caught in the slow lane of the two speed economy, the RBA needs to cut rates further,” says Jones.
“[December] figures confirm evidence from Master Builders’ latest survey showing builders expect industry activity to fall as trading conditions and profitability weaken.
“The ABS release shows that building work yet to be done and in the ‘pipeline’ suffered a sharp decline in the December quarter, in line with Master Builders’ information that builders are suffering a downturn in sales and enquiries.
“There is no indication that the negative growth trend firmly established in both the residential and commercial building sectors will turn around without further policy change,” says Jones.
 
 
</body></html>

Residential construction down 1.8% in December quarter led by drop in WA activity: ABS

<html><body>
The appeal of new residential property is growing among first-home buyers, investors and overseas buyers, according to NAB’s latest quarterly residential review. 
While owner occupiers remain the biggest category of new home buyers, their share of the market fell sharply in the final quarter of 2011 from 52% to 38%. 
A combination of lower rate and softer prices resulted in first-home buyers accounting for nearly a quarter (24%) of new home buyers in the December quarter, up from 17% in the September quarter. 
Investor numbers increased from 4% to 8% spurred on by lower rates and softer prices as well as stronger rental returns. 
Overseas buying activity doubled from 4% to 8% with NAB noted was consistent with some recent reports of strong foreign buying activity in the apartment market.
Click to enlarge
<a href="/images/stories/nabfeb291.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/nabfeb291thumb.gif"></a>
NAB expects these trends to stay broadly unchanged over the next 12 months.
Click to enlarge
<a href="/images/stories/nabfeb292.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/nabfeb292thumb.gif"></a>
According to the survey of 270 real estate industry particpants, demand for new residential property is expected to strengthen across all property types over the next 12 months, led by inner-city low-rise apartments and townhouses, where demand conditions are expected to be good. 
Demand for inner-city houses is also expected to strengthen, especially in NSW, with demand conditions approaching good. Demand is expected to remain weakest for high-rise apartments in the middle/outer ring, although somewhat stronger than in September, with demand for this type of property weakest in SA/NT, Victoria and WA.
 
Currently, the most popular new property types are inner-city low-rise apartments and townhouses, followed by inner-city detached housing, with demand strongest in NSW and Victoria.
Click to enlarge
<a href="/images/stories/nabfeb293.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/nabfeb293thumb.gif"></a>
There was a slight improvement in demand for new residential houses and low-rise apartments and townhouses in the middle and outer ring of major cities during the December quarter. 
In contrast, demand for all other types of new residential property weakened relative to the September survey.
 
 
 
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News