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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The Shopping Centre Council of Australia has backed zoning and planning recommendations by the Productivity Commission aimed at encouraging a more level playing field for all retail formats. 
The Productivity Commission’s final report notes the imbalance between shopping centre landlords and smaller tenants, who have to pay significantly higher rent than anchor tenants due to an imbalance of power and a lack of rental alternatives. 
To address this, the Productivity Commission recommends the broadening of business zones and significantly reducing prescriptive planning requirements to allow all retail formats in existing business zones. 
“We broadly support the commission’s recommendations on planning and zoning,” says Milton Cockburn, executive director of the Shopping Centre Council of Australia. 
“In particular, we are pleased that the commission recognises in its final report that all retail formats have to engage with the planning system and that it is not just a constraint on the so-called ‘new retail formats’. 
Cockburn in particular highlights the final recommendation that “all retail formats” have access to fairer zoning and planning regulations, as opposed to the draft version, which only singled out “new retail” formats. 
As an example, under the recommendation general retail and bulky goods outlets would be treated the same under state and territory planning schemes – meaning no retail format would be able to use planning and zoning regulations to gain a competitive advantage over others. 
“In the longer term, the planning objective should be to have one ‘open zone’ or multiple-use zone where a broad variety of land uses can be considered — such as retail, commercial and even some low-impact industrial uses,” the report says. 
Cockburn says all the other recommendations are directed at facilitating increased retail competition, and “we support this provided it results in all retail formats competing on a level playing field”. 
“We would have liked to see stronger support for activity centres policies (places where retail and commercial activities are combined in one location) and, within that support, particular recommendations for ensuring and increased supply of retail land within those activity centres,” he adds.
 
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lschlesinger-FZcF9M3vE6

Shopping Centre Council backs calls for relaxed retail zoning

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All you need is a sprinkling of confidence, with an understanding that things are not as bad as you read in many newspapers.
For some time now, I have been trying to explain how the underlying fundamentals for Australia's economy and commercial property are strong.
And a recent AFR headline, “Recruitment boom bucks the trend” (December 9, 2011, page 41) now confirms that our major law firms are "in the midst of a hiring spree".
However, if you still need some more convincing of Australia's wellbeing, just take a look at these two graphs.
<img src="/images/stories/confidence.gif">
Clearly, two positive aspects emerge:
Our economy is outperforming other major countries; and
Australia has actually surged ahead since the global financial crisis in 2008 – whereas other countries have barely clawed back to where they were.
Despite retailer complaints regularly making headlines, overall household spending forms a major part of that growth. In fact, consumer spending grew by 1.2% in the quarter (and 3.8% over the year) to September.
Furthermore, incomes are growing, along with a record terms of trade. Plus, corporate profits surged 5.7% for the quarter — climbing to 10.7% for the year.
Moreover, business investment is up 12.9% for the quarter — representing a 22.7% increase for the 12 months to September.
Unfortunately, you can't cajole (nor control) a country's level of confidence, because it is a very fragile commodity.
However, the Westpac-Melbourne Institute Consumer Sentiment Index and the NAB monthly business survey are both showing a general improvement in confidence.
Bottom Line: It should only take a little “think time” over our extended summer break for the penny to drop. And when it does, people will quickly begin to raid that pile of savings they've been squirreling away.
I hope the latest interest rate reduction will provide the encouragement needed for serious investors to realise that now is the time to step back into the commercial property market.
And just make sure you do so, before this rare opportunity dawns upon everyone else.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
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chrislang-EQKojcgJPV

Now is the time to invest in commercial property

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The Shopping Centre Council has rejected calls by the Franchise Council of Australia to cap the amount retailers are compelled to spend on store fit-outs, saying attractive stores are integral to combating the threat of online retail.

"Successful retailers say you have to be prepared to spend money to inspire customers to engage in the bricks and mortar experience," the SCC, which represents shopping centre owners and managers, says.
"Australian franchisors want regulated limits on how much they have to spend."
The SCC is responding to the FCA's plans for a voluntary code of conduct for landlords and tenants, designed to stem disputes between the two.
The FCA, which represents franchisors and franchisees, says the code is designed to address "extreme behaviour" such as "excessive" rent increases and "unreasonable and costly requirements in relation to shop fit-out and signage".
FCA executive director Steve Wright says the ball is rolling on the code of conduct.
But the SCC says that successful international retailers "stress the need for store fit-outs and store-fronts to be exciting, modern and seductive for customers."
"They also stressed the need for shopping centre environments to be constantly refreshed so they remain an ongoing magnet for customers."
According to the SCC, shopping centre owners have no incentive to make unreasonable fit-out demands of their tenants.
"Shopping centre owners fully understand that fit-out requirements are a delicate balance: on one hand, there is the need for shops to be exciting, fresh and seductive to customers; on the other, the amount spent can't be so much that it jeopardises the retailer's business plan and they can't afford to pay the rent," the SCC says.
"After all, the money spent on fit-outs does not end up in the owner's pocket."
But the Franchise Council of Australia says shopping centre fit-out requirements are expensive, too frequent and an unfair imposition on tenants who have leases for as short as five years.
"The problem is, the shopping centre management or owner is trying to turn the thing in to an art gallery instead of a retail precinct," the FCA says.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/"> SmartCompany.</a>
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cknowlton-QnEa6ntUYP

Shopping Centre Council says mandatory store fit-outs necessary to protect bricks and mortar from online

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The next round of the European crisis will involve banks. In Australia, suddenly what banks pay for deposits will become a major issue. Having been forced to cut their mortgage interests rates, the Australian banks will be tempted to recover that money via lower term deposits and other deposit rates – in other words, to take the money from retirees.
But there is a danger in this. Australian term deposits are cheaper than borrowing on the overseas wholesale market. Moreover, there are clear dangers that the wholesale market could be greatly diminished by the European manoeuvres. The ratings agencies have already downgraded the big Australian banks for their dependence on wholesale borrowing. Losing market share in deposits carries risk.
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And to underline this global banking risk, foreign investors are rushing into Australian government bonds at yields below 4 per cent. They are snubbing Australian banks, which are paying in the vicinity of 50 per cent more for their money than government bonds. The government will have to consider reinstating its deposit guarantee.
At the moment, there is a minimum of trust among European banks because everyone knows everyone is hiding losses – it’s a question of who is broke and who is not. As trust breaks down, so does confidence in European banks. Of course, if the politicians can convince markets to pay more for Italian and Spanish paper, then those paper bank losses will decline.
Nevertheless, any further deterioration in Italian and Spanish bonds (and perhaps French) during 2012 would severely damage the wholesale banking market, possibly at a time when Australian banks have maturing overseas wholesale loans.
Australian banks have already slashed deposit interest rates, and if they cut them again you could see an exodus of self-managed funds and other money, which will seek better rates from corporate securities, bank hybrids or even bank shares.
At the weekend, the most aggressive bank in leading deposit rates down was ANZ – the bank that broke ranks in cutting mortgage rates. This morning it has narrowed the gap, although its term deposit rates in most periods are still a little below the other big banks, except in five-year paper where ANZ offers 5.8 per cent – the same as NAB.
However, in this five-year sector Westpac has suddenly taken the lead and has lifted its offering from 5.8 per cent about two weeks ago to 6 per cent, compared to ANZ's 5.8 per cent, CBA’s 5.9 per cent (over $50,00) and NAB's 5.8 per cent.
It is fascinating that while the Westpac economics department has been the most vocal in forecasting lower rates, when it comes to term deposits the bank's special rate for products up to five years' duration either matches or beats its opponents.
CBA and NAB match Westpac in most (but not all) rates but if customers with larger sums seek a better rate, they can usually negotiate it. This is a game that will unfold as the day and week moves on.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
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rgottliebsen-VjLFh9nsD4

The big four's risky rates play: Robert Gottliebsen

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Barton MP Robert McClelland has been appointed the new Minister for Housing and Homelessness in the Gillard government.
The combined postings were previously held by the Federal Minister for Social Housing and Homelessness, Senator Mark Arbib, and Jenny Macklin as Minister for Families, Housing, Community Services and Indigenous Affairs.
According to lobby group Australians for Affordable Housing campaign manager Sarah Toohey, the “inclusion of a single housing minister in the federal cabinet, responsible for all Commonwealth housing policies and programs, is something we have been advocating for and we’re hopeful that this demonstrates that the Gillard government is making housing affordability in Australia one of its top priorities”.
The Housing Industry Association has welcomed the appointment.
“The Gillard government has today noted the challenge that housing affordability (or the lack thereof) presents and has highlighted its commitment to focussing on this issue,” says HIA managing director Shane Goodwin.
“Creating a ministry which includes ‘under one roof’ all facets of housing supply across the spectrum of public and social housing, together with private owner-occupier and rental stock is a crucial step towards delivering a successful package of housing supply policy reform and implementation is achieved,” Goodwin says.
 
 
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jchancellor-FAypfDUnLy

Robert McClelland appointed Minister for Housing and Homelessness

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The ABS housing finance data released today has once again reaffirmed what I have argued here for months now: Australia's housing market is stabilising, and would likely have commenced a gradual recovery in the absence of interest rate accommodation from our recently appointed major bank insurer, aka the RBA.
Today the ABS reports that in the month of October – before the November or December rate cuts, which have been passed on to borrowers mostly unperturbed – the number of new home loans approved to people buying existing dwellings had once again risen by a very healthy 0.9% month-on-month.
Indeed, the number of new home loans approved by Australian lenders for purchases in October – not “refinancings” – was higher than any other month since way back in 2009. You can see the very steady ramp-up in seasonally adjusted new home loan approvals in my chart below.
<img src="https://www.urban.com.au/images/stories/december12.gif">
Now for some reason analysts get confused when interpreting this housing finance data. In respect of the future performance of the housing market, we don't care much for purchases of newly developed homes, which are a small fraction (circa 5%) of the total, refinancings of existing loans, the share of owner-occupiers versus buyers, nor the 'value' of loans (where the latter is affected by a range of things including the value of the homes being purchased, the types of buyers in the market – e.g., first timers acquiring cheaper homes – and the policies of lenders).
The single best proxy for the demand-side of the housing market is the seasonally adjusted number of new loans approved for the purchase of existing homes, which is about 20 times the size of the “new dwellings” series.
Since April 2011, this benchmark has been growing healthily, averaging a stonking 2.2% increase each month. Let me reiterate, this was before two consecutive RBA rate cuts that have been passed on to borrowers.
We got the first glimpse of the impact the RBA's very generous policy reversal has had on the housing market via <a href="https://www.propertyobserver.com.au/mortgages/afg-mortgage-approvals-at-33-month-high-as-investors-return-to-the-market" target="_blank">AFG's data for November</a> (AFG is Australia's largest mortgage broker). This series, which leads the ABS numbers, printed at its highest level since March 2009, with investors hitting their biggest relative share in history.
Expect much more of this in 2012 as Australians seek to take advantage of sub-6% fixed-rate home loans and discounted variable rates only slightly above this level.
As I have noted too many times to count, our incredibly interest rate sensitive housing sector (which is much more so than it has been in decades past) will likely prove a very powerful hedge against adversity in the event that the RBA slashes rates. In contrast to other countries, almost all of Australia's residential borrowers are on fully adjustable-rate mortgages that typically price off the RBA's cash rate.
Why? Because circa 60% of bank funding comes from short-term retail deposits, which in turn price off the short-end of the yield curve largely controlled by the RBA. But I will leave bank funding costs for a column on another day!
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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chrisjoye-JYhJsTrNRC

 Housing market recovered strongly in October 

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<table border="1" cellspacing="0" cellpadding="0" width="337"><tbody>
<tr>
<td width="64" nowrap valign="bottom">
Postcode
</td>
<td width="124" nowrap valign="bottom">
Suburb
</td>
<td width="149" nowrap valign="bottom">
Indicative gross rental yield for units
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2158
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DURAL</a>
</td>
<td width="149" nowrap valign="bottom">
7.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2011
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">WOOLLOOMOOLOO</a>
</td>
<td width="149" nowrap valign="bottom">
6.5%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2015
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ALEXANDRIA</a>
</td>
<td width="149" nowrap valign="bottom">
6.4%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">SYDNEY</a>
</td>
<td width="149" nowrap valign="bottom">
6.2%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2007
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ULTIMO</a>
</td>
<td width="149" nowrap valign="bottom">
6.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DARLINGTON</a>
</td>
<td width="149" nowrap valign="bottom">
6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2153
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">BELLA VISTA</a>
</td>
<td width="149" nowrap valign="bottom">
5.7%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">CHIPPENDALE</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2140
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HOMEBUSH</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HAYMARKET</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
</tbody></table>
 Source: RP Data
 
 
 
 
 
 
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Top 10 Sydney suburbs for unit rents: RP Data

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
The final report by the Productivity Commission into the retailing sector has recommended easing planning and zoning requirements to increase the supply of retail space. 
The commission believes this is the best way to redress the imbalance of power held by shopping centre landlords over smaller retailers. 
The newly formed Retail Council of Australia has been tasked with implementing the commision’s recommendation that state, territory and local governments “broaden business zoning and significantly reduce prescriptive planning requirements to allow the location of all retail formats in existing business zones to ensure that competition is not needlessly restricted”. 
The council must also implement the objectives of the National Retail Tenancy Working Group set up following the 2008 review, including the harmonisation of retail tenancy leases across jurisdictions and developing a common terms framework to be used nationally in reference to retail tenancy leases and the simple meaning of these terms. 
Russell Zimmerman, executive director of the Australian Retailers Association, says the peak body will work alongside the Retail Council in implementing these recommendations:
“Retailers have faced poor trading conditions for the last eighteen months as well as soaring rents and costs. The ARA intends to work as part of the Retail Council of Australia to balance the power between retailers and their landlords through addressing planning and zoning restrictions as well as working to harmonise and nationalise leasing legislation as quickly as possible.”
In its 563-page report, the commission says planning and zoning constraints appeareto be “the root cause of many of the concerns in the retail tenancy market”.
“Simply put, occupancy rates are extremely high in shopping centres due to strong demand for retail space in the face of constrained supply. 
“This places smaller retailers — who do not have the bargaining power of anchor tenants or chain specialty stores — in a very tough bargaining situation. 
“While it is possible for these retailers to ‘vote with their feet’ and move to shopping strips or other locations, the alternative sites are not always commercially attractive.” 
According to the report, planning and zoning controls have had “some adverse impact on the efficient operation of the retail tenancy market by increasing retail centre development prices to a level higher than they would be otherwise [and] reducing the level of localised competition between shopping centre landlords”. 
The report acknowledges the “large gap between rents of anchor tenants and smaller specialty retailers in shopping centres” but also accepts explanations from the likes of Westfield and Mirvac of “the importance of anchor tenants to the success of a shopping centre development”. 
According to the commission there is scope to improving the retail tenancy market by “removing unnecessary restrictions on competition and constraints on the supply and location of retail space through reforms to the planning and zoning regulations”. 
Implementing these reforms, it says, “would potentially increase competition between shopping centre landlords, and reduce the bargaining power of landlords vis-à-vis their tenants, by improving tenants’ ability to relocate close by and preserve their businesses after lease expiry”. 
The 563 page report highlights the growing dominance of shopping centres in the make-up of the retail market. 
“Current planning arrangements have produced 45 million square metres of retail space in Australia which over time is increasingly distributed towards shopping centres. 
“While most retailing still occurs outside of shopping centres, centres represent a growing share of the total market. The contribution of shopping centres to total retail space increased from 28% in the early 1990s to 38% in 2005-06.”
The commission highlighted the following as the key tenancy concerns raised by retailers 
<ul>
<li>Large gap between rents of anchor tenants and smaller specialty retailers in shopping centres.</li>
<li>Significant differences in retail rents in Australia compared to the United States.</li>
<li>Reporting of turnover data in shopping centres is used to set rents at ‘excessive’ levels.</li>
<li>Shop fit-out requirements, particularly the inability of retailers to negotiate competitive quotes for the work undertaken.</li>
<li>Standard lease terms (a provision incorporated in most state and territory legislation in a bid to improve security of tenure for tenants), that are normally of five years duration, do not provide sufficient security and are insufficient to amortise capital costs.</li>
<li>Limited negotiating power of retail tenants in shopping centres at the time of renegotiating a lease.</li>
<li>Landlords exploiting their superior bargaining power when a lease expires by seeking ‘excessive’ rent increases.</li>
<li>Retailers’ lack of security of tenure during ‘lease hold over’ periods.</li>
<li>Lack of publicly available information relating to shopping centre rents.</li>
</ul>
Photograph by Sherwin Huang
 
<ul></ul>
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Relaxing zoning laws would help struggling retail sector: Productivity Commission

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The Goulburn Valley Hotel, which this weekend entertained punters with Bon Jovi and Pink tribute bands, has sold under the hammer for $6.6 million at auction in Melbourne.
The hotel has annual income of $472,849, reflecting a yield of 7.16%.
It includes a long-term lease with options expiring 2035.
It was sold on behalf of H. MacKinnon and K. Sutherland of Bent and Cougle, receivers and managers of Zurcus Hotel-Motel, who were appointed in October.
The property was marketed by Scott Callow from CBRE, Terry Board from TJ Board, Rocky Gagliardi from Kevin Hicks Real Estate Shepparton and Numurkah and Billy Holderhead from Burgess Rawson.
The hotel, located at 221-233 High Street in Shepparton and about two hours north of Melbourne, was built in 1928.
It stands on a 7,083-square-metre site and features a bistro, a piano bar with seating for 80 people, 40 gaming machines and a licence for 2,032 patrons.
The hotel is located close to both Coles and Woolworths.
It was sold as part of a Burgess Rawson portfolio auction held at Crown Casino in Melbourne on December 7.
The Goulburn Valley Hotel won the Australian Hotels Association Victoria Award for Best Re-Developed Hotel in in 2008 and the AHA National Awards for Best Re-Developed Hotel in Australia in 2009.
 
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Shepparton's Goulburn Valley Hotel sells for $6.6 million

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This year has been a year some in the property market – chiefly sellers and some agents – would possibly rather forget. For buyers it’s been a little better, when there’s been a reasonable supply of good stock. But buyers’ enthusiasm has been constrained by nervousness about economic events unfolding beyond our shores. So while they’ve been out there looking, and while in many cases they’ve been keen to buy, they haven’t wanted to pay too much – certainly not as much as what many sellers are demanding. For many sellers it’s not been a happy result – and some of them will be still on the market with their now stale offerings in the new year.
Read on for our season-by-season account of how the year unfolded.
Late summer
After 2010 finished in a state we described as “balanced and healthy”, 2011 started with a bit of warmth, even moving into “hot” for the $1 million market. On the last weekend in February, clearance rates for the auctions we attended were up at 74% and Bidderman number of bidders per auction) was at two.
But a flush of new stock slated to come on to the market in March and April would be the test of whether the warmth we saw in the last weekend of summer represented an underlying hotting up or a temporary New Year afterglow.
The story was different with the $3 million-plus market, which was dead as a doornail with very few homes changing hands. Geographically too, the trend at the top end of the market reversed – with bayside performing a lot better than the inner east (in fact Brighton townhouses at the $3 million level were almost walking out the door).
Autumn
The New Year’s afterglow had indeed faded by March, with buyers increasingly nervous about world events, the stock market, the government – the whole shebang. Coinciding with this buyer nervousness was a flood of new stock coming onto the market as would-be sellers also nervous about the future decided to try and sell quickly.
The surge in stock was not taken up by the market and consequently we saw declining auction clearance rates and bidder numbers, and a market groaning under the weight of stock numbers. Not only was new stock coming on that would previously have been gobbled up, but it was having to compete with an increasing backlog of pass-ins from previous weeks. This compounding rate of stock build meant price only had one way to go – and that was down. It wasn’t quite a price free fall, however, as most sellers, including those at the $3 million-plus level, had the resources to ride out what they thought was just a blip of negativity.
Red Zone - Bidders under 1.5 - Falling Prices
 <img src="/images/stories/maldec12.gif">
Easter
From around Easter the market had the first of two short periods of 2011 price spiking (September was the other). Those sellers who had the good luck or good management to be in the market at this time saw some good results – especially those with sensibly priced A-grade properties.
May 21st was probably the high point for sellers, with the clearance rate a whopping 84% on the 37 auctions we attended and Bidderman of over 2. It was the 2011 weekend to be selling.
Winter
However, the late autumn cheer turned out to be nothing more than a brief flare of optimism before we went into a grinding winter with little activity as the supply of good quality stock dried up, and buyers stayed home uninspired by what was on offer. It was not so much a negative as a boring market.
Prices flat-lined and even fell on lower-quality homes. The exception was the rare occasion when a quality home hit the market, but overall the market was off by as much as 10% from the last peak in April 2010.
The unluckiest sellers this year were those who went to auction on August 6, the day after the share market plunged by more than 4% on fears the global financial crisis was re-emerging. Just three of the 25 auctions we covered sold under the hammer – that’s 12% – though by the end of the day that figure had gone up to 55%.
After that weekend of panic, the rest of winter wasn’t quite the disaster that some had feared. It was more a “nothing” market, with little good stock on offer, and most auctions seemed a tug-of-war rather than a race – even when there was solid support from buyers. Vendors refused to budge on price, and buyers weren’t prepared to pay what they saw as inflated asking prices – and the result, more often than not, was a stalemate. 
Red Zone - Poor Price Matching - Falling Prices
<img src="/images/stories/maldec122.gif">
Early spring
Vendors in early spring saw a reprieve from the doom and gloom of winter, with the second of the year’s upwards price spikes. The $3 million-plus market did particularly well. On August 27 we reported that 11 homes had sold for a total of $55 million in one week.  Clearance rates were back up over 60%. The heat stayed for most of the month of September for the $3 million-plus market.
Why did this happen? It was like April – it was about buyers looking into the future and seeing not a lot of good stock coming on. The supply and price equation showed that demand was there when conditions were right – and September proved it.
But by mid-September we were back in the ‘two speed market’. This division between over-priced lower grade properties and good quality well priced properties had been going on all year, but it became more entrenched as the year went on and buyers flocked to A-grade auctions and stayed away in droves from the rest.
At the lower end it was a vicious circle of low bidder demand resulting in poor results, making sellers reluctant to put their houses on the market. Which meant little in the way of good stock around, so buyers already feeling cautious about the economy anyway weren’t bothering to go out there and bid on the little that was on offer.
Meanwhile, at that upper level, where buyers weren’t so concerned about the economy, they were snapping up whatever good quality stock was coming on to the market. All you need is couple of bidders at this level to push the price up, and even at this point we were seeing auctions with three or more.
However the up spike was short-lived. By the end of September the heat had dissipated as opportunistic sellers flooded their properties onto the market. Within a fortnight most of the good news for sellers was over. And, as it turned out, that was it for sellers in terms of good news in 2011. For buyers though, the good news has rolled on for the rest of the year with a great combination of falling prices and increased choice.
Late spring
With the AFL season ending a week later than usual, the spotlight was on October 22 as the day of culmination for many auction campaigns and the biggest Super Saturday for 2011. In the $1 million-plus market in the inner east and bayside, 150 auctions were slated, three times as many as the previous week, and twice as many as we’d seen on any weekend since autumn.
But it was a day of pouring rain and frustrated hopes for many sellers, with a clearance rate of just 43% on the 46 auctions we attended. And many of the properties that passed in on that hopeful day sat on the market for weeks to come. Three weeks after Super Saturday our survey showed that a third of those properties still had not sold.
Even so, the market was not exactly on its knees. Yes, prices were continuing to fall and in some cases falling quite substantially. But when vendors were prepared to fall in with the market, there were bidders. In fact, if choice and falling prices are your definition of a good buyers’ market, this was an ideal buyers’ market.
2011 - Falling Prices 
<img src="/images/stories/maldec123.gif">
What does this mean for 2012?
There is a lot talk going on about the market being overpriced and the bubble bursting. But the fact is the bubble has already well and truly burst. Prices right now appear to be tumbling as much as they did in the GFC. Even on some good homes they are down 5% to 10% and as much as 20% since our last highwater mark (April 2010) on the weaker homes.
But markets can turn quickly. To recap on recent history, we saw this kind of price discounting through the GFC in 2008 – although, please the GFC was heavier than 2011. But we also saw prices climbing back up the next year, with a mini-boom occurring up until Anzac Day 2010. During that period some prices on some homes rose by as much as 30%. Our graphic representation to the right shows how prices have moved in the past couple of years.
And while we have seen big price drops in 2011 (on all but the best of the best), there is not the panic we saw three years ago. The market appears to be accepting these ups and downs as a normal gyration and these gyrations may well become bigger and more regular in 2012 as we all become more “fully informed” through media saturation.
Our best bit of advice for 2012: The market is two-faced:
Look at the Bidderman stats over the last three weeks. Two weeks ago we reported 27 bidders on five homes and 14 bidders combined on the other 21 auctions. It was the same story last week, with 17 bidders on four homes but only 15 bidders on the other 21 homes we reported on. This week we saw 26 bidders on seven homes and 24 bidders combined on the other 27 homes we reported on. Which shows that properties that are hot are really hot. Those that aren’t need a good agent.
These facts should show you the importance of
<ul>
<li>Research</li>
<li>Multiple negotiation strategy – low and high</li>
<li>Price framing – may be $100,000s away from where you are.</li>
<li>Selection in buying now determines for your future in selling</li>
</ul>
Mal James is principal of<a target="_blank" title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
 
 
 
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