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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Mobile phone stores were the top-performing speciality tenants in the 29 shopping centres that form part of Colonial First State’s retail trust, according to interim results for the six month to December 31.
Mobile phone stores sales increased by 22% in the 12 months to December 31 to $103.7 million compared to $85 million in 2010.
Food retailers (annual sales up 8.8% to $180 million) and food caterers (up 6% $374 million) were the other strong performers among speciality store tenants.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/mobilephone1large.jpg"><img src="/images/stories/mobilephone1.gif"></a>
In total speciality stores annual turnover increased by 3.4% in 2011 to $2.6 billion generating turnover per square metre of $9,086 compared with $8,788 in 2010.
Among the strategies CFS Retail will embrace in 2012 will be “remixing tenancies to optimise performance” and “supporting retailers by advancing online and social media strategies”.;
On a comparable growth basis (including centres that are not undergoing or have not undergone substantial redevelopment in either period of comparison), speciality tenants were second strongest-performing tenants, with turnover increasing by 2.9%, ahead of supermarkets (2.1%). 
The strongest tenant category was “other retail”, which includes cinemas, travel agents, auto accessories, lotto and other entertainment and non-retail stores, with sales growth of 3.3%. 
Department store sales slumped by 6.1% while discount stores sales fell 2.1%. 
The REIT noted a subdued retail sales growth environment with household consumption around trend.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/mobilephone2large.jpg"><img src="/images/stories/mobilephone2.jpg"></a>
Across its portfolio it achieved 99.7% occupancy. 
The shopping centre portfolio’s valuation increased to $8.05 billion from a $7.9 billion valuation for the first half of the year after 16 of its assets were re-valued during the period.
Including the four DFO centres, the portfolio is worth $8.6 billion.
Its assets include the Chadstone Mall, the biggest in Australia, which is set to undergo a $520 million refurbishment.
It also currently building Emporium Melbourne between Lonsdale Street and Little Bourke Street, which upon completion in late 2013 will introduce 43,856 square metres of new, retail floor space in the heart of Melbourne’s CBD.
Net property income for the trust increased 11% to $278.5 million over the six-month period while net profits were down 42% to $201.7 million.
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lschlesinger-FZcF9M3vE6

Mobile phone stores ringing the till at Colonial First State shopping centres

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At last Friday’s Property Council of Australia gig – see <a target="_blank" href="https://matusikmissive.wordpress.com/2012/02/17/missive-extra-next-stop-brisbane/">here</a> – there was a lot of discussion about valuations currently coming in well under purchase price.  The difference between the price paid by the buyer and the bank valuation is often high – more than 20% – and the differential is spreading.
When asked about this situation, I replied that the solution should be a relatively simple one.  Firstly, bank valuers should be paid more – they carry the risk, not the bank – and this, in theory, would allow them time to conduct the appropriate research, and secondly – <a target="_blank" href="https://www.propertyobserver.com.au/developments/a-tale-of-two-queensland-buildings-an-investment-property-s-worth-should-be-determined-by-income/2011111552374">as we noted back in November</a> – rental return should determine value, not what a previous buyer paid.
I started tweeting last week – yes, I am slow to cotton on – and asked my small Twitter following whether they would like to hear more about how a bank valuation is actually done The replies were a resounding yes.  So here goes – bank valuations 101.
By the way, you can follow me on Twitter <a target="_blank" href="#!/MichaelMatusik">here</a> and each day – assuming there is something to say (you won’t find out what I had for breakfast, nor my favourite TV show or about the book I am currently reading), we will let you know…in 140 characters or fewer! *
If you require finance to complete the purchase of a dwelling, all financiers seek a valuation to ascertain the value of the property that is being offered as security for the loan.  Licensed valuers must base their opinion on hard evidence and take legal responsibility for any information they provide.
Australia’s four major banks have a panel of valuers who are assigned to value a particular property through a process called “Valuation Exchange” (Valex).  Smaller financiers often use the same valuers as the “big four”, although there are many valuers who are not part of the Valex system.
To assess a property’s value, a valuer must inspect the property, record details on the number and type of rooms, along with fixtures, fittings and any improvements.  A property’s unique attributes will also be taken into account, such as:
<ul>
<li>location</li>
<li>building structure and its condition</li>
<li>standard of presentation and fit-out</li>
<li>standard of fixtures, fittings and facilities</li>
<li>zoning and whether and planning restrictions apply</li>
</ul>
The valuer combines these attributes together with recent comparable sales in the surrounding area and prevailing market conditions to produce a valuation report.  Several photographs must also be taken to support their findings.
The identification of appropriate comparable sales is often the most contentious issue, especially in relation to new apartments purchased off the plan.  There are a number of reasons for this, as detailed below.
<ul>
<li>Comparable sales should be recent (less than six months old). This is problematic when the number of sales is low (perhaps because of a limited supply of dwellings for sale) or because of economic factors.  The number of dwelling sales last year in Brisbane, for example, was well below historical averages as a result of the January 2011 flood.  This has meant that identifying the required number of comparable sales has become that much harder.</li>
</ul>
<ul>
<li>Sufficient analysis of alleged comparative sales must occur so that family transfers and distressed sales are not shown as market transactions.  For example, one of our developer clients arranged for one of its newly completed apartments to be valued by several valuers independent of the banks.  The first valuation came in at $720,000.  The second at $730,000 and the third at $595,000!  Why was the third valuation so low?  Because the valuer in question had erroneously based the valuation on a “distressed sale” in a nearby project.  Such sales are considered to be inconsistent with the concept of “market value” as defined in the Australia and New Zealand Valuation and Property Standards.</li>
</ul>
<ul>
<li>Banks and their valuers are reluctant to use developer sales (either made off the plan or after completion) in competing projects as comparable sales.  This is based around the mistaken belief that a developer sale does not represent the “true market“.  In some locations – especially where there is no sales history for dwelling types such as a new subdivision in a green-field area – or where sales volumes are lower than usual – this leads to valuations that do not truly reflect a property’s worth.</li>
</ul>
However, the Australia and New Zealand Valuation and Property Standards state that where the property to be valued is within a new development and is being purchased from the developer, sales from other comparable developments should be considered as a cross-reference.  In our view, this means developer sales in other projects can be used as sales evidence to support a valuation.
<ul>
<li>Valuers usually do not use sales made to interstate and overseas buyers as comparative sales, based again on a mistaken belief that non-local buyers are uneducated and pay higher prices than local buyers.</li>
</ul>
<ul>
<li>In Queensland, clause 27c of the sales contract requires all agents to list how much commission they charge.  Valuers – on instruction from mortgage insurers and banks – often reduce the purchase price by the amount the agent is paid in excess of the standard Queensland sale fee of 2.5%.  This is based around the belief that the developer is increasing the purchase price by anything higher than the standard REIQ commission.  Our understanding is that this clause only applies in Queensland.</li>
</ul>
Again, <a target="_blank" href="https://www.propertyobserver.com.au/developments/a-tale-of-two-queensland-buildings-an-investment-property-s-worth-should-be-determined-by-income/2011111552374">as we wrote a few months ago</a>, the distribution of costs should have no bearing on the end value of a product.
Finally, remember that you as a buyer can challenge a valuation if it appears too low.  In particular, keep in mind that comparable sales evidence needs to be “like for like” as far as possible, especially insofar as proximity (to a railway station for example) or height above ground, view, aspect, ceiling height, facilities and so on.  Furthermore, valuers can utilise a much wider range of data than just comparable sales in any valuation report.
*Pretty please (with sugar on top)…join <a target="_blank" href="https://www.twitter.com/MichaelMatusik">my Twitter space</a>.  My aim is to have more followers than <a href="https://www.twitter.com/hotspotting">Terry Ryder</a>.  He has 1,432 followers and has posted 1,841 tweets.  I have just 129 followers, with 35 tweets.  I am winning the race at 3.7 followers (v. 0.78) per tweet, but I need numbers!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>. The Matusik Missive is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.
 
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michaelmatusik-49YzLvdmNv

Property valuation 101

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<table width="398" align="left" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="101">
Postcode
</td>
<td valign="bottom" nowrap width="103">
Suburb
</td>
<td valign="bottom" nowrap width="194">
Indicative gross rental yield
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6112
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">BROOKDALE</a>
</td>
<td valign="bottom" nowrap width="194">
6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6167
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">MEDINA</a>
</td>
<td valign="bottom" nowrap width="194">
5.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6111
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">CAMILLO</a>
</td>
<td valign="bottom" nowrap width="194">
5.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6107
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">KENWICK</a>
</td>
<td valign="bottom" nowrap width="194">
5.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6167
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">PARMELIA</a>
</td>
<td valign="bottom" nowrap width="194">
5.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6168
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">COOLOONGUP</a>
</td>
<td valign="bottom" nowrap width="194">
5.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6056
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">STRATTON</a>
</td>
<td valign="bottom" nowrap width="194">
5.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6168
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">HILLMAN</a>
</td>
<td valign="bottom" nowrap width="194">
5.%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6109
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">MADDINGTON</a>
</td>
<td valign="bottom" nowrap width="194">
5.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
6112
</td>
<td valign="bottom" nowrap width="103">
<a target="_blank" href="/news">ARMADALE</a>
</td>
<td valign="bottom" nowrap width="194">
5.6%
</td>
</tr>
</tbody></table>
 
 
 
 
 
 
 
Source: RP Data

 
 
 
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cknowlton-QnEa6ntUYP

Top 10 suburbs with the highest indicative rental yield for houses in Perth

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SQM Research has compiled data on how much rental stock is available in each capital city in Australia.
<img src="/images/stories/12719.gif">
The number of residential properties available to rent in Melbourne. This equates to a vacancy rate of 3.5%, according to SQM.
 
<hr>
<img src="/images/stories/8465.gif">
The number of residential properties available to rent in Sydney. This equates to a vacancy rate of 1.6%, according to SQM.
 
<hr>
 
<img src="/images/stories/5112.gif">
The number of residential properties available to rent in Brisbane. This equates to a vacancy rate of 1.8%, according to SQM.
 
<hr>
 
<img src="/images/stories/2231.gif">
The number of residential properties available to rent in Adelaide. This equates to a vacancy rate of 1.4%, according to SQM.
 
<hr>
 
<img src="/images/stories/1084.gif">
The number of residential properties available to rent in Perth. This equates to a vacancy rate of 0.6%, according to SQM.
 
<hr>
<img src="/images/stories/583.gif">
The number of residential properties available to rent in Hobart. This equates to a vacancy rate of 2.1%, according to SQM.
 
<hr>
<img src="/images/stories/382.gif">
The number of residential properties available to rent in Canberra. This equates to a vacancy rate of 0.8%, according to SQM.
 
<hr>
 
<img src="/images/stories/238.gif">
The number of residential properties available to rent in Darwin. This equates to a vacancy rate of 0.9%, according to SQM.
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How much property is available to rent in your capital city? A state-by-state analysis: SQM

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<table width="341" cellpadding="0" cellspacing="0" border="1"></table>
<table width="341" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="101">
Postcode
</td>
<td valign="bottom" nowrap width="101">
Suburb
</td>
<td valign="bottom" nowrap width="139">
Median house price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2027
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">POINT PIPER</a>
</td>
<td valign="bottom" nowrap width="139">
$8 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2023
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">BELLEVUE HILL</a>
</td>
<td valign="bottom" nowrap width="139">
$3.28 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2030
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">VAUCLUSE</a>
</td>
<td valign="bottom" nowrap width="139">
$3,217,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2028
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">DOUBLE BAY</a>
</td>
<td valign="bottom" nowrap width="139">
$2.96 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2026
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">TAMARAMA</a>
</td>
<td valign="bottom" nowrap width="139">
$2.9 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2030
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">DOVER HEIGHTS</a>
</td>
<td valign="bottom" nowrap width="139">
$2.55 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2066
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">LONGUEVILLE</a>
</td>
<td valign="bottom" nowrap width="139">
$2,325,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2088
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">MOSMAN</a>
</td>
<td valign="bottom" nowrap width="139">
$2.3 million
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2111
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">HENLEY</a>
</td>
<td valign="bottom" nowrap width="139">
$2,17,5000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="101">
2093
</td>
<td valign="bottom" nowrap width="101">
<a target="_blank" href="/news">CLONTARF</a>
</td>
<td valign="bottom" nowrap width="139">
$2.15 million
</td>
</tr>
</tbody></table>
Source: RP Data
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Top 10 most expensive Sydney suburbs for houses: RP Data

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Suggesting we need more investors in the property market is bound to evoke strong emotions from the first-home buyer demographic.  Many blame Australia’s “generous” tax incentives offered to property investors as the prime instigator for what’s considered (by some) to be an “overvalued” market.  The argument follows that if fewer investors purchased property, prices would fall and more young people would aspire to the dream of owning their own homes.
The basic premise is correct.  Take investors out of the marketplace and there’s no doubt demand would ease substantially with prices experiencing an immediate drop.  Investors currently make up about 30% of our market; therefore it’s a significant percentage to bear influence on capital movements.  However, if Australia’s real estate prices did drop and experience falls on a par with various states in the US (say some 40% to 50%) would there be a sudden rush of happy first-home buyers eager to snap up the “bargains”?  I doubt it.
Due to increasing concern over the global economic outlook and general market uncertainty keeping a tight cap on real estate price growth throughout the past couple of years, along with low interest rates easing the pressure for borrowers, housing in some states is more affordable now than it’s been for  years,  Some areas have corrected by more than 20% – and although it should be noted this has not happened nationwide, neither has it been restricted to the outer-suburban “nether-regions” where demand rarely stays consistent – inner-urban areas have also suffered from the current malaise.
Furthermore, despite the challenges of our “two-speed economy” and increased financial pressure on small businesses, the overall outlook for Australia paints a comparatively pretty picture, so expecting the slump to continue perpetually is unlikely.  As the deputy governor of the RBA Philip Lowe recently pointed out, it is not an exaggeration to say Australia is facing “a once-in-a-century investment boom”.
Aside from this, it seems our prospects over the next couple of years are also sunny.  Forecast growth in the economy is expected to remain on trend, unemployment rates low, and underlying inflation is bang on track to fall within 2 % to 3%.  Just in case this isn’t enough to inspire at least a smidgin of confidence from the initial home-buyer demographic, should there be any financial upsets resulting from a European disaster, we at least have the flexibility to somewhat buffer the resulting fall-out – so the picture’s looking rather rosy.
Yet despite all the above calling out to first-home buyers to enter now and realise their “Aussie dream”, purchasers love a bargain, but when it comes to property let’s face it, no one wants to take on the expense of a 30-year debt if there’s any hint it won’t provide healthy capital returns for the retirement fund.
Considering what’s happened to the property market in Europe and the US, many purchasers worry it could happen this side of the Pacific.  In addition, due to our modern transitional lifestyles, it’s become increasingly important that the first purchase has a large investment component in order to leverage up to the second.  You see, unlike during the 1950s, rarely is the first property a place to call home for the next 20 years or so.  We leave it longer to get married, have children later in life, and change jobs often.
All in all, first-home buyers prefer the amenity of more expensive inner urban locations than the relaxed atmosphere offered in the middle-suburban city ring “family-friendly” suburbs. Therefore, single first-home buyers struggle to afford their version of the dream and property purchases are often postponed for a later more settled period – during which couples can employ joint purchasing power.  However while a combined wage certainly helps, without that initial purchase to tap into, it’s hard to envisage even the family home will be achievable for a growing number caught in the long-term rental trap.  Therefore, with this front of mind, it’s clear where our future model of home ownership is heading – more renters and fewer owner-occupiers.
I’m not here to argue with anyone’s personal financial choices in life, but it stands to reason, if fewer people take the opportunity to buy, more will rent, and therefore as we transition into Australia 2030 with plans to increase housing supply substantially, we better hope there’s a growing crop of investors ready to pool their funds into property to meet this growing rental demand.
There’s one outstanding problem – the type of accommodation largely being built to absorb the need is unlikely to hold the future capital growth investors have been used to experiencing previously. At the moment Australia’s level of home ownership is high, at roughly 70%.  It’s been the desire to own a property along with our robust growing economy and population growth, which has underpinned house prices throughout the decades producing (even in the worst of times) healthy capital returns over a complete 10-year property cycle.
Considering our lucky economic stance in comparison to the rest of the world’s developed counties, along with a smaller pool of competitive buyers in the marketplace, generous tax deductions and the ease of restrictions enabling investors to tap into their self-managed super to purchase residential real estate, there’s more to encourage this demographic than ever before.  However while some property prices will continue to attract genuine owner-occupier demand and therefore maintain the long-term upward curve on capital appreciation, it’s important all property buyers understand the changes our town planners envisage if they’re going to avoid what could be a dangerous and speculative bubble.
Most renters are singles or young professional couples.  As has been demonstrated on numerous occasions by the ABS, the fastest-growing household statistic is the single person model.  The challenge of housing this demographic is providing our state governments with the perfect excuse to begin redesigning our capital cities into a potential (at least in the short term) graveyard of residential real estate.  What’s missed by the data is the type of property single home buyers really desire to own – and in many respects, long-term tenants want to rent – and I can assure you it’s not the accommodation currently undergoing mass construction.
If you take a look at an aerial shot of Australia’s “most liveable” city, Melbourne, it’s easy to see why it stays at the top of the yearly survey.  It’s largely a low-rise city that contains a wonderful feeling of human scale.  Streets surrounding the border of the CBD and running directly across it are lined with buildings of character and charm representing different eras and styles thereby giving the sense, not of urban sprawl, but of a wonderful liveable and personable nature.
However, instead of embracing this low-rise advantage and expanding the transport systems to enable the growing populous to move outward’s and commute, the local government is set to embark on an ambitious “mega city” of skyscrapers “stretching from the MCG to the West Gate Bridge and north to the University of Melbourne”. One in which the Eureka tower (the second tallest residential building in the world) could be dwarfed.  As I’ve pointed out numerous times before, this style of accommodation is designed, marketed and limited (due to lending restrictions) to a predominantly investor-based market – a market that attracts a large demographic of foreign investment from those buoyed up on Australia’s speculative growth.
As any astute property professional understands, these buildings can be poorly designed, have a tremendously high turnover of sales (and tenants), extortionate owner corporation fees and a lifestyle that often feels akin to living in holiday accommodation.  Furthermore, when you have a market dominated by investors, should there ever be an unforseen event to tip us over the brink, (something has simple as a sudden decline in demand for our underground resources, for example) we could be looking at a mass of sales, and a situation in our high-rise market, akin to the worst-affected countries in Europe (for a good example, look towards Sesena in Spain).
When times are tough, owner-occupiers will hold whereas investors will bail in an attempt to liquidise their assets – and considering such large numbers of apartment sales are focused on the foreign market, there’s no telling what other international influences may affect future growth.
Plans like this aren’t limited to Melbourne; inner-city rezoning allowing for a greater density of stock is happening country-wide – for example, Brisbane, the Gold Coast and Perth.  In all the high-rise markets over the course of the last 10 or so years, we’ve seen poor growth (from oversupply and low demand) and in some cases very poor rental take-up (a good example would be Melbourne’s Docklands, which currently has a vacancy of 7.9% (SQM) and has seen less than 5% capital growth over the past five years (RP Data).  Considering the abundance of planned construction, investors purchasing into this market can no doubt expect more of the same. Furthermore, many of these apartments are sold based on their spectacular views of the city surrounds.  This is an attractive aspect, however don’t be fooled! There’s no condition in the contract that states the view can’t be built out.  The better the view, the higher the price – often by hundreds of thousands – therefore, the consequent price drop is not marginal by any means.
All in all you have to fear the future potential of this market and the consequence any drops would have on the economy as a whole.  Make your own conclusions and assumptions, but I for one will not be placing my hard-earned dollars in this direction.  I maintain that good property that falls under consistent solid owner-occupier demand will continue to outperform throughout the foreseeable future. Just be warned however, that without plenty of due diligence, the risks of making expensive errors are more prevenient than ever.
Catherine Cashmore is senior buyer advocate, property manager and market analyst for <a href="https://www.elitebuyeradvocates.com.au/">Elite Buyer Advocates</a> and also Channel Ten’s property expert on The Circle.  With extensive experience in all matters regarding real estate, Elite Buyer Advocates successfully purchases, assesses and negotiates more than $200 million worth of property each year for its clients.
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Why investors are essential for our property markets

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This year has already started out as a year of economic confusion and consternation. 
We all know the strength of our property markets is underpinned by Australia’s economic prosperity, and of course this is closely intertwined with China’s growth. 
However, with the economies of many countries faltering and China’s growth slowing, some are concerned that stumbles in China’s economy could stunt Australia’s economic growth. 
So let’s look at what’s really happening in China and what’s ahead. And more importantly what this could mean to your wealth and mine. 
Why is China growing so fast?
 
In 1978, after years of state control of all its productive assets, the government of China embarked on a major program of economic reform. 
In an effort to awaken a dormant economic giant, it encouraged the formation of rural enterprises and private businesses, liberalised foreign trade and investment, relaxed state control over some prices, and invested in industrial production and the education of its workforce. 
The strategy has worked spectacularly well, and now the People's Republic of China ranks as the world's second-largest economy, after the United States. 
Over the past 30 years it has been the world's fastest-growing major economy, with consistent growth rates of around 10%. China is also the largest exporter and second largest importer of goods in the world. 
What’s ahead?
 
Since 1978 hundreds of millions of Chinese have been lifted out of poverty, yet there’s still a big job ahead, with hundred of millions of rural population as well as millions of migrant workers still living on less than $1.25 a day. 
As China goes through its industrial revolution it plans to more than 350 million people into cities in the next 15 years. 
If you think about it, this means they would be building the equivalent of 17 Australias in the next 15 years. Now that’s a mammoth task, and as Australia’s biggest trading partner China requires massive resources to fuel this growth. 
To help put some perspective to this, ANZ’s Paul Braddick suggests the following could happen in China between now and 2025:
<ul>
<li>350 million more people will move to the cities – 103 million have moved since 1990</li>
<li>221 Chinese cities will have more than 1 million people living in them – the whole of Europe has 35 million today</li>
<li>1 million kilometres of new road and 28,000 kilometres of metro rail will be laid</li>
<li>170 mass-transit systems will be built – twice the number that all of Europe has today</li>
<li>40 billion square metres of floor space will be built in 5 million buildings</li>
<li>50,000 skyscraper will be built (of more than 30 storeys) – the equivalent of building two Chicagos every year</li>
<li>97 new airports will be built</li>
<li>One in seven planes assembled by Boeing and Airbus will be delivered to China</li>
<li>1,000 MW of coal-fired power capacity will be commissioned every week – equivalent to four million tonnes of new coal demand</li>
<li>One wind farm turbine will be built every hour and a half </li>
</ul>
What’s happening in China now?
 
China’s economic growth is enormous at around 9% per annum. While this is likely to drop a little over the next few years, the growth in some of its big cities is almost double that. 
Interestingly, there are currently 16 cities the size of London in China. Cities I’ve never heard of. 
Have you heard of Changsha, Chengdu and Chongqing?  Neither had I. 
What about Weifang or Wuhan? 
Cities like these are the backbones of China’s 30 or so provinces whose astonishing economic growth is largely responsible for keeping the world’s economy in black numbers. For example, the economy of Shandong province itself is larger than those of several G20 countries. 
This is not only creating a new middle class in China but also a new group of very wealthy individuals.  According to a study by Julius Baer Group, China’s millionaires account for about half of the rich people across the 10 major economies in Asia, and the number of millionaires there will more than double in number to 2.8 million by 2015 
What does all this mean for Australia?
 
Australia stands poised to capitalise on an economic transformation unparalleled in our nation's history, with a resources and commodities boom capable of generating $480 billion of exports a year and creating 750,000 jobs in the next 20 years.
 
But there’s more to it than that. 
Currently more than 80% of our exports to China are resources; however, looking forward China offers markets of enormous proportions for all the modern services that a developed economy like Australia has to offer. We are in a prime position to supply the world’s fastest-growing major economy with food as well as a raft of products and services. 
One more thing… 
If we play our cards right, Australian tourism could be boosted as we become the playground of the new rich in China who will want to holiday in a nearby country, just as we were a preferred holiday destination of the Japanese in their heyday in the 1980s. 
According to the ANZ Bank, almost $2 trillion needs to be invested in the Australian economy for our nation to capitalise on the mining boom caused by the developing world's march towards urban industrialisation. 
While our new economy will be underpinned by mining, the benefits will flow through to the services, education tourism and our property markets. 
Sure there will be ups and downs and lots of problems ahead, however we are indeed the lucky country and our economy will remain the envy of the developed world. 
Needless to say – a strong economy is good for our property markets. 
So, if like me, you are confident that Australia has a prosperous future, our current softer property markets could be the ideal time to start or add to your property investment portfolio. 
I am going to explain exactly what I’m doing about it personally when I’m joined by finance strategist Rolf Schaefer and tax specialist Ken Raiss as we conduct our <a href="https://www.propertyupdate.com.au/2012-events/national-property-and-economic-market-update/" target="_blank">National Property &amp; Economic Update seminars</a> in five states in the next few weeks.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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How Australian property markets will benefit from China’s industrial revolution

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The Reserve Bank noted signs of stabilisation in house prices in some capital cities, but has left the door open to further rate cuts should global demand ease further, its <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/monetary-policy/rba-board-minutes/2012/07022012" target="_blank">February monetary policy statement</a> has revealed.
“While housing prices had declined over 2011, there were signs of stabilisation in some major cities around the end of the year,” says the statement.
The central bank does name the major cities show signs of stabilisation.
However, it notes continued weak conditions in building construction and mortgage lending.
“Building construction activity remained subdued, reflecting the pull-forward from the earlier boost to grants to first home buyers, slower population growth, tight access to credit for developers and lowered expectations of capital gains. Housing credit continued to grow a little more slowly than household incomes,” says the RBA.
On the key measure of inflation, the RBA says underlying inflation is running at around 2.5%, “in the midpoint of the medium-term target range”.
“With growth expected to be close to trend and inflation consistent with the target, the board considered that this setting was appropriate for the overall macroeconomic outlook. They judged that if demand conditions were to weaken materially, the inflation outlook would provide scope for a further easing in monetary policy,” the statement concludes. 
The statement notes that the two rate cuts in November and December had been “passed through to most lending rates in the economy, which were now around average levels”. 
While noting “significant differences in conditions across sectors” it says the outlook for GDP growth remains close to trend over the next couple of years. 
“The recent inflation data had confirmed that, in underlying terms, inflation was now at the midpoint of the target range. Inflation was expected to remain consistent with the target over the forecast period. 
“Credit growth remained modest, though there had been a slight increase in demand for credit by businesses, and housing prices had showed some stabilisation around the end of 2011, after having declined for most of the year. The exchange rate had risen since early December,” says the RBA. 
The RBA also reports an improving outlook for a still “fragile” Europe. 
“While the financial situation in Europe remained fragile, the likelihood of an extremely bad outcome seemed to have diminished somewhat over the previous couple of months, partly reflecting actions by the European policymakers. 
“This, together with stronger economic data from the United States, had provided a mild boost to confidence in financial markets. Growth in China had moderated as intended, but on most indicators had remained quite robust through the second half of 2011. 
“While there were still many uncertainties, the central forecast was for growth in the global economy in 2012 to be about 0.5% below trend. Australia's major trading partners were expected to continue to grow more quickly than the world as a whole.”
 
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RBA notes ‘signs of stabilisation’ in house prices in some capital city markets 

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Following the RBA’s “surprise” decision to hold rates steady in February, financial market pricing has changed quite strikingly.  My first chart below compares the financial market’s best estimate of the RBA’s cash rate in June this year with the RBA’s actual cash rate over the last 12 months.
The implied or predicted cash rate, which is represented by the blue line, is derived from the Sydney Futures Exchange’s 30-day interbank futures contract for the month of June 2012, which cash settles on the average cash rate in June. It is, therefore, the best proxy of investors’ future beliefs apropos the actual cash rate in June that we have available to us.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/feb211.gif"><img src="/images/stories/feb211thumb.gif"></a>
The chart vividly illustrates how fickle financial market beliefs can be: they swung from pricing in more than two rate hikes back in February 2011 – and that was from a far higher base cash rate of 4.75% (it’s 4.25% today) – to an incredible six-plus rate cuts in late November last year when the doomsayers really had their way. 
The convergence of the blue line towards the red one, which denotes the RBA’s prevailing cash rate, shows us how investors have drastically pared back their expectations for monetary policy accommodation. 
Today the “market” is forecasting that we will only get one more RBA rate cut by June notwithstanding the major banks’ efforts to protect their oligopoly profits via out-of-cycle hikes. Another rate reduction following the two in November and December last year would push the RBA’s target down to a rather stimulatory 4%. 
One take-away from this analysis is that investors are not especially good at predicting rates. Having said that, they would appear to be better than economists. In a recent study, RBS’s Kieran Davies and Felicity Emmett empirically assessed the predictive powers of economists compared with a range of financial market benchmarks. In their own words: 
“We tested the accuracy of futures market pricing of the outright level of the [RBA’s] cash rate in a year’s time versus economist forecasts. Our analysis shows that the futures market comes out best on various measures of forecast accuracy, for both the long term and recent history, although neither approach is particularly good. The futures market beats the economists’ forecast 60% of the time, although both approaches persistently overestimate the cash rate and both have large average absolute forecast errors (1.1pp for the futures market versus 1.2pp for the economists). Worryingly, both approaches often point in the wrong direction to where the cash rate ends up – this happens 36% of the time for futures pricing versus 41% of the time for the economists.” 
Davies and Emmett’s finding that financial market expectations can end up wildly divorced from reality is reinforced by the chart above. In the first six months of 2011, the market’s estimate of the June 2012 cash rate was directionally way wrong. At one stage in February last year investors’ best guess at the June 2012 cash rate was 5.4%, which is nearly five standard RBA hikes above its present-day level. 
Yet investors are not stupid. They were being guided by the RBA’s communications, which at that time were pointing to higher rates given the vigorous core inflation pulse that was expected by the bank in the years ahead. 
Then, of course, the world changed. We had a rolling series of natural, political and economic disasters in Japan, the Middle East, Europe and the US. And so by July interest rate expectations started to swing from hikes to pricing in cuts by June 2012. Importantly, the market managed to manoeuvre its “base case” well in advance of the stickier views of economists, who, with a few notable exceptions, took longer to buy into the emerging offshore downside. 
Based on the best available information today, it would appear that the financial markets – and, frankly, some very dovish economists – overreacted. In late November 2011 the market was pricing in an incredibly low 2.9% cash rate by June, which is about the same level it reached during the worst days of the GFC. While no credible economist got quite this negative, there were certainly some forecasting cash rates as low as 3.5%, which would mean another three cuts from the current threshold. 
Of course, what actually transpires in the future cannot be known with confidence, and there is a state of nature in which these worst-case possibilities could still be fulfilled. 
The RBA’s striking policy shift in late 2011 has had a profound impact on consumer expectations. According to the latest Westpac-Melbourne Institute Consumer Sentiment survey, the average Australian has gone from budgeting on two to three rate hikes in mid-2011 to thinking that rates will remain unchanged over the next year (having already pocketed two cuts). 
The RBA’s decision to leave rates unchanged in February had a similar effect on consumers to that which has been observed in financial markets. Prior to the last RBA board meeting, 41% of Australians expected even lower interest rates over the next year, with only 31% banking on rises. After the RBA’s “shock” February call, the share of “doves” slumped to 30% while those expecting higher rates (i.e., “hawks”) soared to 48% (see chart below).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/feb212.gif"><img src="/images/stories/feb212thumb.gif"></a>
Today’s final chart shows Westpac’s analysis of variations in consumer rate expectations over time, expressed in the form of forward variable mortgage rates. And it emphasises a point I have belaboured here, which has significant consequences for housing market dynamics: specifically, the change in consumer interest rate beliefs has been far larger than the actual adjustments to the RBA’s cash rate.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/feb213.gif"><img src="/images/stories/feb213thumb.gif"></a>
In June 2011, the average Australian thought the RBA would lift mortgage rates to a very restrictive 8.6%. Today average Aussies believe that home loan rates will be basically unaltered at around 7.4%. 
I’ve argued here that with unemployment sitting close to its “full employment” level, underlying inflation bubbling along inside the RBA’s target 2% to 3% band, and the economy more broadly expanding at an unequivocally “trend” pace, a period of interest rate stability would probably be a good thing. 
The RBA knows it is fallible and does not want to over-engineer the price of money. So, unless we get some new data that decisively shifts the RBA’s base case, there is a persuasive argument in favour of it not interfering further with the economy.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
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Consumers expect no change in interest rates: Christopher Joye

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Property developer Lend Lease’s retail portfolio increased in value by 6% over the six-month period to December 2011.
Over the six-month period, the portfolio increased in value from $4.84 billion to $5.13 billion.
The portfolio comprises 701,000 square metres of retail space.
Major purchases made this year include the Cairns Central Shopping Centre.
Lend Lease’s Australian Prime Property Fund acquired the far north Queensland shopping centre in its entirety after paying $261 million to buy the 50% share held by joint owner Westfield.
The largest asset it manages in the portfolio is the 112,000-square-metre Erina Fair on the New South Wales central coast.
 
 
 
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