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.

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[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>

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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

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Melburnians will be protesting tomorrow against the slated demolition of the 1928-built Scots Church Hall and associated buildings on the corner of Collins Street and Russell Street.
Melbourne Heritage Action will march against the approved development by Scots Church Properties Trust, arguing that planning authorities have ignored regulations in approving the project.
Spokesperson for Melbourne Heritage Action Rupert Mann says approval should never have been given to demolish the building.
“It’s supposed to have the highest level of heritage protection in Australia. Despite that, it’s being left as a wafer thin façade of one wall,” he says.
In 2007 then planning minister Justin Madden ignored Heritage Victoria recommendations and issued permits for the destruction of Scots Church Hall, the former Victorian car park and a former showroom.
Heritage Victoria opposed the demolition of the car park because of its historical and cultural significance – it was the first multi-level car park in Melbourne.
“That it was pushed through by Justin Madden is appalling. How can the peak heritage body of this state be overridden by one man?” Mann says
In 2006 trustees of the church signed a 99-year lease agreement with Grocon and APN Property Group to develop the site.
Grocon, in partnership with APN, plans to build a $220 million, 12-storey office block on the site, with <a target="_blank" href="https://www.propertyobserver.com.au/office/westpac-takes-paris-end-of-collins-leaves-docklands-to-other-banks/2011092251651">Westpac as the anchor tenants</a> in the Peddle Thorp-designed building.
The current plans incorporate just nine metres of the car park building.
Mann says it’s a poorly designed project that will detract from the character of the area.
“It’s a highly disrespectful incursion – they’ve made no attempt to preserve the heritage of the buildings. The whole streetscape will be destroyed,” he says.
“You begin to lose what makes Melbourne a great city. Life here is centred about these small-scale heritage precincts.”
Mann hopes to pressure APN into redesigning the project to further incorporate the older buildings.
In Victoria, any applications for a project in excess 25,000 square metres is automatically referred to the state planning minister and skips the council decision.
Mann says this is another point of contention that he hopes to raise with the protest.
“We want that threshold raised way up to 60,000, 70,000, even 80,000. We believe the City of Melbourne should have much more of a say on what goes on in Melbourne’s CBD.”
APN was unavailable for comment.
 
 
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awalsh-7Ub9EypybQ

Heritage group to protest against demolition of Scots Church Hall in Melbourne CBD

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Hotel giant Accor plans to open 9,000 hotel rooms in the Asia-Pacific region in 2012, mostly in Australia, following its acquisition of the Mirvac hotel portfolio. 
In December Accor acquired Mirvac hotel portfolio for $327 million, comprising about 6,100 hotel rooms. 
Hotels in the portfolio include the Quay West hotels, the Quay Grand at Circular Quay in Sydney as well as the Sebel hotels in Newcastle and Mandurah in Western Australia. 
On the back of reporting an 18% rise pre-tax operating profit to €446 million ($556 million), Denis Hennequin, Accor’s chairman and CEO, says the group easily exceeded its expansion target of 35,000 new rooms in 2011 and aims to add a further 40,000 rooms this year.
“The Asia-Pacific region will represent about 45% of Accor’s pipeline of development in 2012,” he says. 
Accor manages about hotels in Australia, with brands including Sofitel, Pullman, Novotel, Mercure and Ibis. It also owns a fifth of hotel owner Tourism Asset Holdings Ltd and runs most of its assets. 
Accor has 104,000 rooms (609 hotels) in the works, and 45% are planned for Asia Pacific. 
During the year, Accor opened a record 38,700 rooms, mainly under franchise and management contracts. 
Of the total number of new rooms, 47% were located in Europe and 33% in the Asia-Pacific region, consolidating its leadership positions in these geographies. 
By the end of 2011, the group's hotel base stood at 531,700 rooms, half of which were operated under franchise and management contracts.
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lschlesinger-FZcF9M3vE6

Australia the target of Accor hotels expansion in Asia Pacific 

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Peter Bond, the new owner of a cyclone-damaged resort on Dunk Island, off far north Queensland, says it could be many months before construction begins on his proposed new resort.
The island was devastated in February 2011 by Cyclone Yasi.
The mining entrepreneur bought the island in December – and <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/dunk-island-in-fnq-rumoured-to-have-sold-to-linc-energy-boss-peter-bond/2011120252645" target="_blank">after initial confusion as to his intentions,</a> announced plans to build a five- or six-star eco resort.
The Linc Energy boss, who bought the island for about $10 million, was ranked as the 12th richest person in Queensland in the recent Sunday Mail top 100 rich list with an estimated wealth of $607 million.
"It is a big task, and we've only just taken over the island – we're only just getting on with it," Bond has told the ABC.
"The reality is it's the rebuild that matters, so by the time our architects get on with that and we really get on with construction, that's many months away, I'm afraid."
He says he hopes “day trippers” will be able to return by Christmas.
"I'd like to get the spit working again, so I'd like to get a cafe down there," he says.
"I'd like to get that area cleaned up and I'd like to get that usable for day visitors again this year.
"With the help of the government to get the jetty going ... that's the big area, get the jetty and the spit going, and we've ticked a big box."
 
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jchancellor-FAypfDUnLy

Peter Bond says construction of new Dunk Island resort could be months away

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The premises that house well-known Sydney eateries Otto Ristorante and Kingsleys Steak and Crabhouse on Woolloomooloo’s Finger Wharf have been acquired by global fund manager Aviva Investors Asia for $16.3 million. 
Aviva has acquired Lots 6 and 7, which houses Otto Ristorante covering 747 square metres of retail space, and Lot 8, home to Kingsleys Steak and Crabhouse, which measures 570 square metres. 
Michael Gilbert of Chesterton, who negotiated the sale alongside colleague Michael Stokes, told Property Observer Lot 5, the 540-square-metre premises of Manta restaurant, had been withdrawn from the market for the time being “while works are carried out that will increase the capacity of the restaurant and, naturally, the turnover portion of the rent”. 
<a href="https://www.propertyobserver.com.au/new-south-wales/woolloomooloo-wharf-restaurant-offerings-comes-with-%2425-million-hopes/2011072750928" target="_blank">Four strata retail lots had been listed for sale in July</a> last year with expectations of about $25 million. 
“Looking back $25 million was possibly a tad optimistic, but all sides are happy at [a yield] of 8%,” Gilbert says. 
Gilbert and Stokes sold the premises on behalf of property investment syndicate Quantum Group, which valued them at $16.5 million in 2000. 
In late 2004, the leaseholds covering the four properties were transferred at $22 million to Tower Trust Limited, which replaced JP Morgan as custodian of Quantum’s property trusts. There were 80 members of the syndicate after its $22 million acquisition. 
A consultancy report compiled by Urbis in 2004 revealed that total turnover from the four restaurants rose from $15.3 million per year in 2001 to $21.7 million per year in 2004, equating to an average turnover productivity level of $12,400 per square metre. 
In a December 2007 investor presentation the properties were valued at $28.5 million, a 30% increase on the purchase price, with a gearing level of 58%.
 
 
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Woolloomooloo premises of Otto Ristorante and Kingsleys sell to global fund manager

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The historic Olderfleet building in Collins Street has been sold for about $67 million by the Australian Unity Property managed office trust –below the price expectations of $72 million.
Offers for the intricate neo-Gothic facade building at 477 Collins Street closed last August.
Mark Pratt, the general manager of property, mortgages and capital markets at Australian Unity Property, says selling the property enabled AUI to provide investors with enhanced liquidity and ”higher than expected capital returns.”
“Strong demand, tight supply and a lack of development in Melbourne over the past three years presented us with a unique window of opportunity to maximise the value of the Olderfleet Building on behalf of investors.
“While we considered a range of alternative options including refurbishing the property, we determined the best outcome for investors was to sell the property into an improving market, achieving a sale price above current book value,” Pratt says.
<img src="/images/stories/olderfleet.jpg">
The sale to Aviva Investors Asia Pacific Property Fund – a fund managed by Singapore-based fund manager Aviva Investors Asia Pte Limited – was packaged by the Sydney fund manager Propertylink after being marketed by CBRE, according to the Australian Financial Review.
Its valuation was $65.4 million as at November 2010. As at December 2009 there was a $63 million book value for the building – a decrease of $3.75 million from its 2008 book value.
Olderfleet is 100% leased, and the car park is leased and operated by S&amp;K Car Park Management. Its office tenants include Accenture, CapGemini,  Ernst &amp; Young, Melbourne Conference &amp; Training Centre and Allens Arthur Robinson law firm.
The complex consists of an eight-storey office building behind a series of classified historic facades dating back to 1884 – and protected from demolition during the 1970s building boom by public lobbying – a well as a large car park.
With a dual frontage site of 3,899 square metres, it has more than 40 metres of prime retail frontage on Collins Street.
The office investment has 11,986 square metres of net lettable area and a commercial car park of 598 bays off Flinders Lane.
Located between William and King streets in the CBD's popular western core, the property was offered as substantially under-rented.
It has a net passing income of $5.7 million per year.
The office complex was built by Becton in 1985 behind the row of three historic terraces.
It was sold in 1994 by Becton Corporation for $40 million to Singaporean interests at a yield of 14.75% on its then net income of $5.9 million a year.
The sale occurred about the same time that Michael Buxton retired from Becton, thereby ending his two-decade long partnership with Max Beck.
It was later sold to the Acumen Office Trust established by Multiplex Capital in 2002 for $56 million.
Multiplex Capital achieved strong returns for investors, delivering an income yield of 9% per annum for the two years to 2007, which represented a total return of 11.3% over the five-year period. By 2007 Multiplex Capital had renewed leases for more than 11,000 square metres of space.
In 2007, after sounding out investors, there was a transfer of management rights to Australian Unity Property Limited.
Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity.  It has more than $11.5 billion in funds under management as at January 2012.
 
 
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Historic Olderfleet building in Melbourne’s CBD sells for above book value but below expectations

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The controversy over troubled shopping centre group DFO continues, after a Victorian Supreme Court justice on Tuesday decided business partners of the company's two former owners David Goldberger and David Wieland could launch a legal case against them. 
The decision comes after months of complicated legal battles and financial tussles over the business, which has resulted in a number of court cases and has even involved the former chairman of the Australian Competition and Consumer Commission, Graeme Samuel.
Supreme Court Justice Jennifer Davies ruled yesterday that the business partners of David Wieland and David Goldberger could launch a legal case against the two millionaires.
The case revolves around a $14 million emergency line of credit used by DFO developer Austexx to construct the company's South Wharf facility.
The two Davids were former directors of Austexx. The case is brought against them by Texxcon, a subsidiary of Melbourne-based construction and engineering firm Contexx.
According to Texxcon, Austexx borrowed $14 million from a joint venture company called Nominexx. That funding was to be used after a separate funding line had been dried up.
However, Texxcon claims this loan was not repaid, and that Austexx has engaged in misleading and deceptive conduct.
While both Davids and DFO manager Geoff Porz were able to stop Nominexx from suing the company – due to their presence on the board – Justice Davies has given Texxcon representatives permission to sue.
Texxcon claims Wieland, Goldberger and Porz breached their directors' duties by saying Austexx could pay back the money, although all three have denied this is the case.
Both Wieland and Goldberger slipped off the BRW Rich 200 list last year after Austexx went close to collapse and was forced to sell assets to reduce a $1 billion debt.
Separately, a property development company called Verticon in which the two Davids were major shareholders was placed in administration last year.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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pmcstafford-pr9eMARWoN

Court gives former business partners the right to pursue $14 million claim against DFO founders 

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<img src="/images/stories/406500.gif">
The median house price in Mornington and surrounds, according to Residex. This is up 0.7% on the previous year.
 
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The median house price in Geelong and surrounds, according to Residex. This is up 6.3% on the previous year.
 
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The median house price in Berwick, according to Residex. This is up 7.1% on the previous year.
 
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The median house price in Castlemaine, according to Residex. This is up 5.4% on the previous year.
 
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The median house price in Warrnambool, according to Residex. This is up 1.2% on the previous year.
 
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The median house price in Bendigo, according to Residex. This is up 6.6% on the previous year.
 
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The median house price in Wodonga, according to Residex. This is up 6% on the previous year.
 
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The median house price in Moe, according to Residex. This is up 4.6% on the previous year.
 
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The median house price in Shepparton, according to Residex. This is up 6.2% on the previous year.
 
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The median house price in Portland, according to Residex. This is up 5.4% on the previous year.
 
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The median house price in Mildura, according to Residex. This is up 3.9% on the previous year.
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Mornington pips Geelong in regional house prices: Residex - 12 localities from dearest to cheapest

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The following are the January median house prices for 16 regions across New South Wales:
<img src="/images/stories/416000.gif">
The median house price in Wollongong, according to Residex. This is up 3% on the previous year.
 
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The median house price in the Blue Mountains, according to Residex. This is down 0.2% on the previous year.
 
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<img src="/images/stories/388000.gif">
The median house price in Newcastle, according to Residex. This is about the same as the previous year.
 
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<img src="/images/stories/385500.gif">
 
The median house price in Penrith Windsor, according to Residex. This is up 3.3% on the previous year.
 
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<img src="/images/stories/374500.gif">
The median house price in Southern, according to Residex. This is up 1.9% on the previous year.
 
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<img src="/images/stories/368500.gif">
 
The median house price in the Central Coast, according to Residex. This is down 1.1% on the previous year.
 
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<img src="/images/stories/354500.gif">
The median house price in the North Coast, according to Residex. This is down 3.9% on the previous year.
 
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<img src="/images/stories/351000.gif">
The median house price in the South Coast, according to Residex. This is down 3.7% on the previous year.
 
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The median house price in the Hunter Valley, according to Residex. This is down 3.7% on the previous year.
 
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<img src="/images/stories/264500.gif">
The median house price in Bathurst Orange, according to Residex. This is up 2.2% on the previous year.
 
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<img src="/images/stories/255500.gif">
The median house price in Mudgee District, according to Residex. This is up 2% on the previous year.
 
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<img src="/images/stories/240000.gif">
The median house price in New England, according to Residex. This is down 1.4% on the previous year.
 
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<img src="/images/stories/223000.gif">
The median house price in Riverina, according to Residex. This is down 4.4% on the previous year.
 
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<img src="/images/stories/206500.gif">
The median house price in Dubbo and North West, according to Residex. This is up 2.2% on the previous year.
 
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<img src="/images/stories/160500.gif">
The median house price in Western New South Wales, according to Residex. This is up 2.2% on the previous year.
 
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Wollongong pips Newcastle in regional house prices: Residex - 16 localities from dearest to cheapest

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The Reserve Bank has acknowledged the need for the major banks to raise interest rates outside of the official rate cycle due to the higher price they have paid recently for covered bonds.
Released after the major banks all pushed up their variable mortgage rates by between 0.06% and 0.1%, the minutes acknowledged the higher price the banks paid for funding.
The Commonwealth Bank and Westpac were forced to pay a higher price for $6.6 billion worth of covered bonds in mid-January.
The two banks were forced to pay 175 basis points and 165 basis points respectively over the benchmark swap rate.
“The Australian banks had issued sizeable amounts of covered bonds in a number of offshore markets in recent weeks at these higher spreads,” the RBA February minutes say.
“Furthermore, the cost of swapping funds raised in offshore markets into Australian dollars had increased in recent months.
“There had also been two large issues of covered bonds in the Australian market, which had repriced the local bank debt curve significantly higher.
“Over the same period, Australian banks continued to compete actively for deposits, which resulted in the reductions in most deposit rates not fully matching the recent reductions in the cash rate.
“Collectively, these developments had increased banks’ overall cost of funding relative to the cash rate and had narrowed the difference between banks’ lending rates and funding costs.”
However, the higher funding costs have been dismissed by analysts from investment bank Societé Generale.
“Our calculations suggest that almost all sources of funding of Australian banks except long-term overseas are cheaper than their post-GFC highs and have kept falling since the second half of 2011 in absolute terms,” the bank says.
ANZ has hit back at this report, telling The Australian Societé Generale makes the simple mistake of analysing absolute funding costs, rather than the funding costs relative to the official cash rate.
“We agree that absolute funding costs have been falling, but relative to the official cash rate they have increase.”
Yellow Brick Road founder Mark Bouris agrees that funding costs for new lending have risen but says the game is about “averaging and smoothing out your costs, not just passing them on to your customers”.
 
 
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RBA acknowledges banks' higher funding costs

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Hotel giant Hyatt Hotels Corporation has blocked an attempt by billionaire Clive Palmer to remove it as the manager of the Coolum resort on the Sunshine Coast, after Palmer accused Hyatt of poor management and siphoning $60 million in funds from the resort over the past 20 years. 
Hyatt took Palmer to the Brisbane Supreme Court yesterday after Palmer had announced he had dumped the company as the manager of the resort, removing its signage and sacking Hyatt's general manager, Maurice Holland.
Hyatt argued that Palmer had breached the contract between the two by trying to remove it as resort manager and by sacking the general manager.
Palmer represented himself in court, and told Justice Glenn Martin that the resort could still be run without Hyatt, and that the general manager, Maurice Holland, was sacked in the resort's best interests in mind.
While Palmer threatened to close the resort if the injunction was granted, Martin granted it anyway.
"(I'm satisfied) there will be sufficient funds... to cover the short-term of the injunction I propose and secondly, the defendants good corporate citizens will not abuse their position if an injunction is granted for such a short period."
Martin said the injunction would protect Hyatt's reputation, get Holland his job back and protect the interests of those who own villas within the resort.
The case will return to court on March 1.
The action came after Palmer released a statement yesterday saying the company had been siphoning $60 million in funds over the past two decades "back to their headquarters in Chicago and there has been a major cover-up of these activities".
"We have uncovered this activity since taking over the resort last year. This should be of concern to the operators of other Hyatt resorts around Australia and worldwide. The Hyatt hasn't given the property the priority it deserves. The Hyatt Group doesn't even have a full-time employee in Queensland and we believe they are not even represented in Australia."
Hyatt's lawyers said in court that the allegation was false.
Palmer, who bought the resort in July of last year, said that despite Hyatt running the resort for over 20 years, "it has just led to millions of dollars in losses to the owners". He also commented he was surprised to learn staff were never paid bonuses.
The move comes just a day after Palmer threatened the Football Federation of Australia with court action if it tried to take away his licence – the billionaire has garnered a reputation for himself in the sport, sacking players and making controversial comments about the state of the game.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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